Although it's important, the trade is the main important part.
I've got a simple system, where I trade at a level when 200pips can go against me, unless ofcourse I'm on 1 Lot, then I has to try to turn it around, keeps me in the game and easy to figure as calculation in my excel.
59% profitable, Average winning trade is £9.85, losing £11.92 at the moment ( Factor in £5 on the spread and it's bareable just )
Unless your the type of person that holds the trade until his SL or TP is hit regardless getting into all this indepth money management is abit pointless really.
My SL is a worst case, I normally prefer to bail ( normally correctly ) if I see it turning against me, and I never had a TP target, I may have a area but rarely hold for my target fully ( need to work on that )
KISS people KISS.
I've got a simple system, where I trade at a level when 200pips can go against me, unless ofcourse I'm on 1 Lot, then I has to try to turn it around, keeps me in the game and easy to figure as calculation in my excel.
59% profitable, Average winning trade is £9.85, losing £11.92 at the moment ( Factor in £5 on the spread and it's bareable just )
Unless your the type of person that holds the trade until his SL or TP is hit regardless getting into all this indepth money management is abit pointless really.
My SL is a worst case, I normally prefer to bail ( normally correctly ) if I see it turning against me, and I never had a TP target, I may have a area but rarely hold for my target fully ( need to work on that )
KISS people KISS.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!