2023-02-13 18:46:37
Rule #1 (Risk Management)
• Have a maximum weekly loss ($600)
• Have a maximum daily loss ($120)
• Have a maximum loss per trade ($40)
Take your weekly loss and divide that by 5.
(Ex. $600/5 = $120 loss per day) That will give you your daily loss ($120). Now you want to divide your daily loss by 3, giving you 3 chances. (Ex. $120/3 = $40 loss per trade)
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