Risk Management
Risk Management:
Never risk more than 3% of your account per trade!
Risk Formula:
Account * % Risk = $ Risking
$ Risking / Pips Risking = Suggested Lot Size
For Example:
$1,000 * .03 = $30
$30 / 30 = 1.0
Move decimal over 1 point to get Lot size
1.0 -> 0.10
Proper risk management & consistency is the key to staying in the game and securing consistent profits.
Check out the website for the Risk Calculator Excel available for purchase.