Yes: you do, naturally, but in reality you shouldn’t ever run any risk of burning an account, if the total amount of money involved - if the trade suddenly reverses and hits your stop-loss - is no more than 1% of your trading capital.
The trick is to work out the position-size AFTER seeing where the stop-loss needs to go and what the cost will be if it’s hit, and then to divide that into 1% of the money.
The generally accepted rule (“it is what everyone agrees” as you just said, yourself, in another thread! ) is that you need a minimum of $250 in the account, to trade 0.01 lots.
Actually not everyone agrees. To be honest, some people say $300, not $250. But I think you like to gamble with higher risk, so let’s say $250?
I think reading these threads will help you a lot -
) is that you need a minimum of $250 in the account, to trade 0.01 lots.