A lot of my recent poor trades have come as a result of not having enough money in my trading account to set a reasonable stop loss. I only risk 1% or less of total capital on any one trade and that is great from a money management standpoint but that hurts more than it helps if the stops are too tight.
Hopefully this will solve the problem of getting stopped out prematurely. I’m going to deposit more money as soon as the money clears into my checking account, which should be today.
This will give me the ability to set 100 pip stops if necessary, which should help immenesly. Even if I think there is a key level for a stop only 30 pips away, at least I can trade 3 lots during the move and take full advantage of it.
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