DislikedI think your logic is a bit wrong because IMHO if you have a $20,000 acct and don't use a stop your risk is always 100% or $20,000 whichever is greater.
Now if you mean what you risk on each trade as in lot size I think in time you will find you are over-leveraged. I doubt you will get away with that for long.
(This type of risk equation won't work for everyone... don't try this at home boys n girls.)
[size=3]Ok, so in the first part you claim to have no stop but then go on to talk about...Ignored
Ofcourse, I try not to exit at a 1 big loss area.