I've had a great month testing @breakoutprop. While we've covered the basics and essentials, let's delve into some risk management & sizing strategies I use to enhance my trading on funded accounts
A 🧵👇
To begin with, my setup includes:
→ 2 charts
→ Watchlist on the left
→ Trades below
Taskbar:
→ Dashboard
→ Journal
→ Main Setup
As for my sizing:
→ Account size: $100K
→ Max SL: $6K
→ Max SL per trade: $500
→ Normal SL per trade: $250-300
So essentially, rather than positioning based on %s, I use a fixed amount for lot sizing & SL, which also helps me skip the process of trading based on pips.
Lastly, looking at an example:
I want to long ETC with $21.25 as SL. What I do is:
→ Put SL as $21.25 while taking the long
→ Chose lot size based on SL I have (200 lots in this case)
I ofc have a bigger SL when say it's 3-5% wide vs. tighter when scalping/looking for short term trades (1-3% SL)
For my main charting and analysis, I primarily use @tradingview.
Wrapping up this short post on how I trade with @breakoutprop. I promise to return with more similar content in due time, and while I do so, if you found this useful, please L+RT! :)
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