Pity you didn't take it, pity I didn't either
A rule of thumb for pips risk and risk tolerance:
- H1: 30 pips is maximum you'd risk
- H4: 35 pips is maximum you'd risk. Unless it's a pair like EURNZD, GBPNZD... or exotics like USDNOK, USDNEK where pip value is so low that pips move in hundreds, then 200 pips would be ok for a H1 and 250 for H4
Once you have your pips risk/tolerance, calculate your position size and trade the level. You can use a free calculator like this:
http://www.babypips.com/tools/forex-...sitionsize.php
Or a commercial calcualtor like Forex Smart Tools. I use the commercial one, I love it.
A rule of thumb for pips risk and risk tolerance:
- H1: 30 pips is maximum you'd risk
- H4: 35 pips is maximum you'd risk. Unless it's a pair like EURNZD, GBPNZD... or exotics like USDNOK, USDNEK where pip value is so low that pips move in hundreds, then 200 pips would be ok for a H1 and 250 for H4
Once you have your pips risk/tolerance, calculate your position size and trade the level. You can use a free calculator like this:
http://www.babypips.com/tools/forex-...sitionsize.php
Or a commercial calcualtor like Forex Smart Tools. I use the commercial one, I love it.
Disliked{quote} Unfortuantly i did not take the trade. I regret it, but it is was on those learning process for me. the trade is currently breaking strong downward. The reason i did not take the trade is i thought the trade was too big of a risk for 23 pips. I don't really have a system for how many pips to risk for each time frame. I don't risk no more than 2% of my account for a trade, however, i have no system for pip risk for each time frame: Wk, D1, 4H, 1h. What do you typically risk for those time frames: Wk, D1, 4H, 1H?? Thanks alfonso,Ignored
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