When to stop trading?
For every $1000 in your account, let's say you risk 1% per trade. You set your stop loss at 10 pips and your position size is 1 minilot.
If you make 10 pips, with 100% leverage, you make $10 or a 1% return.
Do you quit for the day?
If you do this 200 days in a row, you have tripled your account without compounding.
One trade a day. Can you do it? Or will you be tempted to keep trading?
Would a 200% return put you in the 5% or less club?
Trading is simple. Don't let the rat beat you.
For every $1000 in your account, let's say you risk 1% per trade. You set your stop loss at 10 pips and your position size is 1 minilot.
If you make 10 pips, with 100% leverage, you make $10 or a 1% return.
Do you quit for the day?
If you do this 200 days in a row, you have tripled your account without compounding.
One trade a day. Can you do it? Or will you be tempted to keep trading?
Would a 200% return put you in the 5% or less club?
Trading is simple. Don't let the rat beat you.