It's not just enough to have a "Killer strategy" and a good EA or understand sniper entries...
It's also important to have a LOT SIZE PLAN!
Too many times I've seen Traders blow an account with a profitable entry simply because they miss used Lot sizes... Out of excitement, they expose unnecessary lot sizes because they want to 1000x their account.
Know your account size and apply the right risk management.
Broker's Leverage is sweet when you're in profit but can be a nightmare when you experience a draw down.
You can create a lot size plan by knowing the leverage your trading account operates, your account size and establish your 'risk per trade' (usually you shouldn't risk more than 1-10% of your account per trade').
When you know all of that, you can then determine you lot size per trade.
It's also important to have a LOT SIZE PLAN!
Too many times I've seen Traders blow an account with a profitable entry simply because they miss used Lot sizes... Out of excitement, they expose unnecessary lot sizes because they want to 1000x their account.
Know your account size and apply the right risk management.
Broker's Leverage is sweet when you're in profit but can be a nightmare when you experience a draw down.
You can create a lot size plan by knowing the leverage your trading account operates, your account size and establish your 'risk per trade' (usually you shouldn't risk more than 1-10% of your account per trade').
When you know all of that, you can then determine you lot size per trade.
