I like to think 1% of my account balance, but it also depends on how tight my SL is. Don’t lock yourself into anything, do only what you feel comfortable in doing.
Risking the same amount on each trade is not always feasible, depending on where your SL is. If it’s close to your open price then your position size can be very large, and you might not feel comfortable with that. So cut it in half, or quarter.
Here’s an example of a setup I’m looking at for next week:
Always look at your potential exit (TP & SL) before determining your position size, or risk.
As you can see, the SL is pretty tight on this setup, increasing my position size to 25,000 when risking 1% of my account, but it has the potential for a nice return if it works out, 1:4.5. But even if it only hits my first TP target it’s still 1:1.4.
However, due to the tight SL, I might decide to reduce my risk and cut this one in half, then scale in the other half later on.