I am only doing this on a demo account but my plan is to only have a maximum of 2 % of my account at risk at any one time. I am trading 2 lots at a dollar a pip each lot. My account is 50,000 so if my stop is 100 pips then I can have 5 positions open at any time or $1000 if this makes sense. Once a stop is taken to breakeven then I discount it because there is no risk.
To be honest though I think 100 pips is way too much so thats why Im practising my entries on 5 min time frame. That way I can enter with a 10 - 15 pip stop so this way...Ignored
When you switch from Demo to your actual account in the future, will you also be starting with $50k?