Amen to the rat race exit, I am just here in my glass box in London - checking the trades I placed last night (Sunday) from my phone and hopping onto trading view which has been minimised to the smallest corner of my screen.
A longtime lurker on t2w forum, but recently joined babypips. Nice work and thanks for the proof that hitting eject on a rat race is indeed achievable, in time of course.
So idea is to take smaller lot sizes so you can increase your stop loss, correct? Maybe I’m way off base here but won’t this will decrease the risk percentage which I thought Baller’s method was risking between 5-10% of his account.
Your stop loss size doesn’t reduce your risk percentage.
You can risk 5% of a $10,000 account in various ways, it just depends on your appetite for risk (per pip) at the moment. You can be comfortable with a 100 pip SL on a certain pair but will need 500pips on another, thus you risk the same 5% but with different lot sizes.
So: Small Lot * Extra Wide Stop = Risk Percentage
and Big Lot * Tighter Stop = (same) Risk Percentage
Bottom line, @The_Baller doesn’t have to adjust his risk per trade, just the things that add up to it.
I hope this clears it up, if not, we’re lucky to have people with more experience to better explain.
I’m going to share the $–T out of this thread! This has to be, by far, the most straight-forward non-B.S. method I’ve come across. I’ve been around the trading world about 4 ish years and do trade full time. I’ve seen a lot of rhetoric and candle patterns and formations and blah blah freaking blah.
This cuts through ALL THE B.S. and serves it up straight!
Already in decent profit from applying both methods that were shared here and now I do have a lot more time with my kiddo (18 months) and a lot less time on the charts!