Good old Alexander Elder gives these if I remember correctly:
(i) Do not risk more than 2% of equity on a single trade
(ii) Do not risk more than 6% of equity at any given time. In other words you can take 3 trades as per above. To take the fourth trade, you must exit one of the three trades - either in profit or loss.
(iii) If you are down 6% at any time, stop trading for that calendar month.
(i) Do not risk more than 2% of equity on a single trade
(ii) Do not risk more than 6% of equity at any given time. In other words you can take 3 trades as per above. To take the fourth trade, you must exit one of the three trades - either in profit or loss.
(iii) If you are down 6% at any time, stop trading for that calendar month.