Optimizing Trade Risk Management: Revisiting Trade #540297325 for a Standard Account

I’m looking for some feedback on how to change this trade to meet risk management requirements.**

The original trade was a buy order for 0.10 lots of GBPUSD at 1.26770. The trade was closed at 1.26954 for a profit of 18.40 points.

To ensure that the maximum loss does not exceed 2% of the account size of 20,000$, the lot size would need to be 0.03155321 to achieve a 2% risk.

However, this would result in a profit of only 6.44 USD. In a standard account where 1 lot = 100,000, this would be far too small for most traders.

What are your thoughts on how to best adjust the trade to meet the risk management requirements while still achieving a reasonable profit?

Here is the trade information:

Ticket Open Time Type Size Item Price S/L T/P Close Time Price Commission Taxes Swap Profit
540297325 2024-01-31 11:51:28 Buy 0.10 GBPUSD 1.26770 1.26650 1.27185 2024-01-31 15:24:54 1.26954 0 0 3.50 18.40

Here’s my personal thoughts on this:

It doesn’t need to be exactly 2%. Slightly higher or lower should okay (I personally prefer lower as you need to consider spread also). As long as you don’t suddenly risk 10% instead of 2%, then to me it’s okay.

Only you have the answer on this one. Do you prefer bigger losses/winners or smaller losses/winners? It really depends on your risk appetite.

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thanks for your advice
i ask chatgpt to make the trade calculation
is it correct ?
wath would be the profit for 10% trade?

You exited the position before price had risen halfway to your TP. Obviously, you could not have known that price would have reached your TP (although it did) or that you could have more than doubled your profit on the trade, but what was the decision to exit early based on?

its the trader whom send me sginal on telergram whom reply to stop the order halfway
how much i will have win with 2% risk for an account of 20.000$

thx for your help

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Are you convinced it’s the best plan to follow instructions they do not justify from a person you do not know?

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i use learn2trade forex signal

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Well, it looks like you just got a lesson.

You should send @tommor 5€

I think asking chaptgpt is the wrong path. You need Pipsology.


The same School of Pipsology that someone deemed useless? :smiley: :smiley: :rofl: :rofl:

This website has a very useful position size calculate on the Tools section.You should try that instead

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So, to keep the risk at 2% on a $20k account, you’re right, your lot size has gotta shrink. But, tiny lots mean tiny profits, not fun. How about tweaking your stop loss and take profit levels instead?

But why???

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Yes, the same one.

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