What do you do to calculate the position sizes, lots and risk reward ratio. I am not sure what tools to use in quick moving market ?
For stocks i used an excel sheet and now use an android mobile app but i am not sure for forex.
Please help!
2 Likes
I don’t trade markets live, I always enter through a pre-set order. Even when day-trading like I am currently, the entry order and stop-loss are pre-set simultaneously so I always know my correct position size.
Occasionally I have made a calculation error and set an entry order with an inaccurate size. This is only obvious after the order is triggered. So I always make sure entry orders are for very small positions, then I can immediately add to them if needed.
3 Likes