I just cant get my head around position sizing, as I'm on a £1000 account i should be trading Micro lots, (1000 units/0.01 ect),
-So if i was to have a maximum risk of 1% does that mean my stop loss should be £10?
-I currently use the BabyPips position calculator is this alright or should i do it myself?
-My trading style is a more of a swing trader/long term (typically 1D/1W charts so my stop losses seem to be quite high, in the hundreds is this alright?
Thanks its one of the few things i ant get my head about!
-So if i was to have a maximum risk of 1% does that mean my stop loss should be £10?
-I currently use the BabyPips position calculator is this alright or should i do it myself?
-My trading style is a more of a swing trader/long term (typically 1D/1W charts so my stop losses seem to be quite high, in the hundreds is this alright?
Thanks its one of the few things i ant get my head about!