DislikedHi Macsoj, i use an hard stop loss around 40-50 pips.
after I agree to loss 1% of my account, i can calculate the size lot.
Ex: if you have an account with $2000.00 and you are agree to 1% it is $ 20.00 loss. now I can calculate the size lot : $20.00 ( loss) / 40 pips ( stoploss) = $0.50 / pips. you have to have a trade with an 0.05 lot size ( if you use a micro-lot account) or $0.50/ pips
in the worst case you loss only 1%....
Hope to help youIgnored
- Joined Aug 2007 | Status: Member | 1,616 Posts
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
- Joined Aug 2007 | Status: Member | 1,616 Posts
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED