Thanks for taking out time and showing interest in the thread. I have always wondered how one derives on the magical numbers of 10K/5K etc. I do assume it is some percentage like 1% or 2% etc of one's capital. But has one ever questioned this? Why 1% and not something else? Well I can talk about this myth of % risk per trade at a length and how erroneous it is to risk management.
A very important point that you highlighted is the psyche issues and I am glad about the point that you are trying to make. Not to have any psyche issues
and only then trade multiple strategies. Let me tell you there will not be a single point in time in anyone's life, when, one will ever have the
right mindset consistently, there will be periods where one will loose it. And there is no cure to it, you can just work on it and control the damage that it can do, but cannot escape it. There was never an ideal situation and there will never be one. We have to start with what we have right now, the capital, the strategies, the mindset and all other things, and make the best use of it. Doing so we will either fail or get the best of what we have.
If you have to fail, you will fail with a small position size or even with a bigger position size, only difference will be that, if you make it to the other side you will have a better reward with you to live upon.
with 5 L capital.. ur per trade risk should be less than 10K .. ideally closer to 5K if u r not consistently profitable for 3+ months... looks like u r trading too large for ur account.. keep that down and focus on trading well and dont try to make money .. if u have to try to make money u r certain to lose... trading should be effortless ... as calm and as relaxed as having ice cream after lunch keeping ur legs over the table...
haha.. i dont mean to discredit anything.. merely a point that no loss should damage a trader neither psychologically nor financially.. no point trading multiple systems/instruments unless this thing is take care of
P.S: He mentioned some issues hence i wrote.. an exmerimental system should nt have psych issues..signing off
Sumo my good friend, always enjoyed your sense of humor, but I am not a seasoned trader. I am a slow learner that is all I can say about myself.
He is a seasoned trader, trading multiple systems. This is an experiment with a particular system with aggressive money management.
And I think you aren't married. Because if a husband eats ice cream with legs over the table, he dies. Or maybe his wife is at her moms place.