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What % is your daily loss limit?


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What % is your daily loss limit?

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  #41 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
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bobwest View Post
Good points. Here's another:

3. Increase account size.

This can be an awkward thing to discuss, because a lot of traders are essentially trading on a shoestring -- which is not a criticism, just a recognition of reality. You've got the money you've got, after all. But a too-small account can seriously limit you, because you won't have that much leeway to allow for losses.

The micros have the effect of making the impact of losses, that is, risk, much less a factor, which is a good thing. So effectively speaking, it makes everyone's account larger, in a risk control sense anyway.

Bob.

I agree with bobwest. If your account is too small to place your stop WHERE IT NEEDS TO GO with only one contract you are undercapitalized.

I'd also like to say I see ALOT of people complaining they'll never make any money on the micros with commissions ect...

Thats NOT the great thing about this instrument. The great thing is that you get practice with REAL money!!

Its also not about getting rich. Its about trading consistently and if your undercapitalized on the micros maybe you should practice on the sim while you save.

Also I WILL ARGUE (politely) that the SIMULATOR will always be important! Not only for learning platform but for testing, execution pratice, and for those days where maybe you just shouldn't be trading psychologically wise.

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June 1, 2020


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