I thought I’d try out some new charting tools at trading view. Although you can’t see it in this example it also spots things like Doji’s and other candle patterns. Neat. I was a bit disappointed it did not make the coffee.
Anyway yesterday had a disaster with GBPJPY sell stopping out overnight – not that I’m bothered it hardly touched my account as I am using a quite small % of my lots. Small risk maximum return.
Incidentally I will be writing a section on risk and return as I’ve learned the hard way (why do I ALWAYS learn the hard way?) about over risking and over leveraging your account.
I think the key (just to give you an idea) is about balance in your account. If you want to make $50 a trade. You’ll need a larger balance. The thing about having big stop-losses (not in terms of $ but in terms of size) is that it means if a trade goes against you 8 times out of 10 it will retrace anyway and you’ll get out of it in profit.
Anyway – anyone got any questions please comment here or use the questions and comments link above.