here is my take on this when talking about money management.... that is the only side of trading that needs to be meticulously planned out and have a system for.

the Analysis part is more of a flexible, educated guess sort of thing.

three basic guidelines that keep you profitable given you have the ability to guess the direction right 50% of the time is.

R≤ 1%

where R is the risk and 1% implies risk to account

[(p+tp)-(p-sl)> (μ+ sd(2)) - (μ-sd(2))]< [(μ +sd(3)) - (μ-sd(3))]

where p is the current price at which you transacted, tp is your take profit, sl is your stop loss.

μ is the average price you are using to calculate sigma, I use 24h

sd is Standard Deviations (i use of 24h)

and rule number 3

current loss should always be 85%≤ of previous profit. as to always have a positive 15% expectation aka the house edge.

the Analysis part is more of a flexible, educated guess sort of thing.

three basic guidelines that keep you profitable given you have the ability to guess the direction right 50% of the time is.

R≤ 1%

where R is the risk and 1% implies risk to account

[(p+tp)-(p-sl)> (μ+ sd(2)) - (μ-sd(2))]< [(μ +sd(3)) - (μ-sd(3))]

where p is the current price at which you transacted, tp is your take profit, sl is your stop loss.

μ is the average price you are using to calculate sigma, I use 24h

sd is Standard Deviations (i use of 24h)

and rule number 3

current loss should always be 85%≤ of previous profit. as to always have a positive 15% expectation aka the house edge.

AVT INVENIAM VIAM AVT FACIAM