DislikedHello Chazzle,
if I could join this question, but more than how many lots you are trading, what is your MM, and how many % do you put in the trade and if you have any quick calculator. I have to say that your scalping is really fabulousIgnored
I have roughly £2.5k of funds to trade , I only have 20% in my trading account at any one time - I trade £0.5/£1 per point and occasionally £1.5 per point , but very occasionally.
So it's 2x , 4x and very occasionally 6x leverage.I have a hard stop which you will see is normally more than the profit I take from a trade-although I rarely let the trade go to that point.If I trade £1 per point and let it go to say , 50 points of SL , that's 2% of my capital...but these days I won't really let that happen in scalping - one false move like that and it could blow the profits of a good day very quickly
A lot of trades that are £0.5 I will cut at say -10 - that's 0.2% of equity.
You have to be extremely quick in cutting a trade as soon as it looks like it's not going to work out - it can happen that you are overly protective and you close at 5,10 or BE and then see price explode in your favour - you have to accept this as well.
So , it's not a great deal of money , but I made the mistake before of putting too much in , overleveraging and blowing it all - If you overleverage you cannot be mentally calm/nimble/objective , whatever you want to call it.
I want to see many months of consistency in my trading before I risk more capital.
