You need to develop the skills to trade bigger. New traders should trade at their skill level not their pocketbook or trading account level. The new trader should not trade with 10-20 lots per trade just because they have the money. If you can’t trade one lot successfully, what makes them think that they have the right to trade 10 lots? And have a chance of being successful. A trader need to show a trading profit over the course of ten consecutive trading days while only trading one lot per trade. once they have earned the right to trade more lots per trade they should try 2 lots per trade for the next 10 trading days. Remember: if you are trading poorly with two lots you must lower your trade size back down to a one lot trade
Develop the Skills to Trade Bigger (10 of 26)
by Kirk Norwood | Dec 22, 2008 | Disciplined Trader Series, Money Management, The Disciplined Forex Trader | 0 comments