DislikedBo, I think most people understand risking a small portion of capital ( 2% seems to be the basic rule of thumb ) on any given trade, but what I think is lacking with most traders ( my self included ) is deciding 1) setting actual or mental stop losses for a given trade. Should it be a certain number of pips or based on previous support and resistance. Sometimes previous support and resistance is pretty far away so your exposure can be great, but at the same time you don't want to be too close and be stopped out. What is your basic rules Bo? Do you pass on trades if your exposure ( potential trade risk to reward ) is too great? What do you do define the risk as too great? I think sometimes if I knew what trades to pass in those instances it would help me manage my money. Thanks for your insights and knowledge.Ignored
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Please lengthen your message to at least 1 characters.
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