help with my newbie questions
I read that you shouldn't risk more than 1% of your trading capital per trade, but how can you be sure you won't lose more than that? If the price goes far enough against you the loss could be much greater than 1%. Is the 1% maximum risk supposed to be set in place with a stop loss? For example, with a $10,000 account would you calculate the pip value of $100 and set your stop loss at no more than $100 worth of pips? Even then the brokers don't always fill your stop loss in time so how can you really only risk 1% per trade?
My other question is what leverage should be used to make an average of $50 a day with a $10,000 account and is it a realistic goal for a newbie??
Also, why are the opens of new candlesticks not always equal to the close of the previous candlestick?? Since the candlestick started immediately after the previous one, shouldn't the open of it always be equal to the previous close and not above or below it?
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