I am using the oanda trader (demo) with 100k as the starting balence. I have my own system but I want to make sure that I am working the money management correctly.
Im trying to only use 6% of my balence on each trade. With stop losses of course.
My question is for the Oanda Pro's in here.
Each trade Im taking the units and multilying by 6%.
Example 2,000,000 units * 6% = 120,000 units.
This seems to be working. Am I on the right track with this? Or is there another way to get my 6% calculation.
Im trying to only use 6% of my balence on each trade. With stop losses of course.
My question is for the Oanda Pro's in here.
Each trade Im taking the units and multilying by 6%.
Example 2,000,000 units * 6% = 120,000 units.
This seems to be working. Am I on the right track with this? Or is there another way to get my 6% calculation.