Applied B&B Pattern. Trade setup with Buy Limit position (EP) at 1332, Stop Loss (SL) at 1322 and Take Profit (TP) at 1360.
Money Management
I have 17,800 USD in my portfolio. I can lose 10% of the port which is 1,780 USD.
Position Sizing
1 Tick = $100
1 Contract size need IM = $3,850 (I can open not more than $17,212 / $3,850 = 4.62 Cons)
It is 10 Tick from EP to SL, with 1 Con, I will lose 10 * $100 = $1,000
To lose 1,780 USD I need to open 1,780 / 1,000 = 1.78 Con
Then I will put 1 Contract
Money Management
I have 17,800 USD in my portfolio. I can lose 10% of the port which is 1,780 USD.
Position Sizing
1 Tick = $100
1 Contract size need IM = $3,850 (I can open not more than $17,212 / $3,850 = 4.62 Cons)
It is 10 Tick from EP to SL, with 1 Con, I will lose 10 * $100 = $1,000
To lose 1,780 USD I need to open 1,780 / 1,000 = 1.78 Con
Then I will put 1 Contract
Trade closed: target reached
TP 1360 Reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.