Hi,
I've usually used a fixed percentage style money management system (3% or 5% if I'm feeling adventerous).
This time round however, my experiments have taken me to a style of trading that uses the super SR7 indicator to set stops. I've looked at alot of trades and the inital stop is almost never hit, it can be up to 700 pips away. However allot of 100 - 200 pip stops are hit (after the support rises).
Are we all following so far?
So my problem is that if I use a fixed fraction position size on a 700 pip loss, then I'm just not in the game enough, my account seems to crawl....
can anybody suggest something else in terms of money management that can be used in a situation like this?
Thanks
Stu
I've usually used a fixed percentage style money management system (3% or 5% if I'm feeling adventerous).
This time round however, my experiments have taken me to a style of trading that uses the super SR7 indicator to set stops. I've looked at alot of trades and the inital stop is almost never hit, it can be up to 700 pips away. However allot of 100 - 200 pip stops are hit (after the support rises).
Are we all following so far?
So my problem is that if I use a fixed fraction position size on a 700 pip loss, then I'm just not in the game enough, my account seems to crawl....
can anybody suggest something else in terms of money management that can be used in a situation like this?
Thanks
Stu