Originally Posted by MikeyG
As a rule of thumb never risk more that 3% of your account. So you can have 6 positions open at the same time but, each one risking 0.5%.
When you have more experience, this gets a little more complex, for example after trading for 5 years I have adapted my risk according to the timeframes. In my case I have better win/loss and risk/reward ratios on the 4h and daily chart, but I also trade the 1h and 30m charts because they give me good ratios too, so I risk a little more on the bigger timframes. But this will take you a lot of experience, and a lot of demo trading. So stick with the general rule for now!
Hope that helps..
There is only one side to the market; and it is not the
bull side or the bear side, but the right side.