Hello There,
I will be participating in contest in virtual money starting tomorrow and although I searched forum for some tips/strategy of how to trade there I couldn't find anything.
Could you please tell me some ideas/tips how to approach it concerning timeframe selection and risk percent per trade...
I am thinking of 2-5% risk per trade. Not too small?
But what time frame to use? 5 minute timeframe has more swings than 30 minutes and 4 hours and we then we have limited time. But then transactions costs are higher....
I will be participating in contest in virtual money starting tomorrow and although I searched forum for some tips/strategy of how to trade there I couldn't find anything.
Could you please tell me some ideas/tips how to approach it concerning timeframe selection and risk percent per trade...
I am thinking of 2-5% risk per trade. Not too small?
But what time frame to use? 5 minute timeframe has more swings than 30 minutes and 4 hours and we then we have limited time. But then transactions costs are higher....
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)