December 11th, 2008
Always Scale Back When You are Trading Poorly (4 of 26)
Written by
Kirk |
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When things are not working out for you cut down on the size of the lots you trade until you get back on track again. All good traders will follow this rule. Why continue to lose on five lot trades when you could save yourself a lot of money by lowering your trade size down to a one lot on you next trade? Consider doing this if you have two losing trades in a row, lower your trade size down to a one lot trade. If your next two trades are profitable, then move your trade size back up to your original lot size. You might also move back into your normal trading size a little at a time.
Tags: beginning trading, lots, trade profitably, trade size, trade timing
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