Do you use Daily or Weekly Max Loss?

Do any of you use a daily or weekly max loss or combination of both?

short-term swing : Maybe something like this? Weekly loss limit 2% Daily risk Limit 0.50% with placing 4 trades a week.


Just curious to see if others practice weekly or daily loss limits and what are your limits.

For me, the money I have has been earned hard. I can’t let it go off so easily. This is the reason why I never risk more than 1% of my capital ever.

triticieek posted:
For me, the money I have has been earned hard. I can’t let it go off so easily. This is the reason why I never risk more than 1% of my capital ever.

Why is it difficult for me to strictly abide by these rules when doing trading?

triticieek posted:
For me, the money I have has been earned hard. I can’t let it go off so easily. This is the reason why I never risk more than 1% of my capital ever.

Totally agree and I know what you mean. Thank you for your reply

Swing trading has always fascinated me and I’m trying to understand the strategy first and then begin backtesting.

I don't think I can risk more than 2% per week or month. I try to trade it with money management. And I use a 1: 2 risk ratio in every trade.

I got used to plan my statistics on loss/wins on a month. So, I set a particular max loss per month and try to comply my plan. Of course, sometimes there are situations when I can't comply with my max loss plan, because for a half of the month I lose more than I planned. I try to do everything in order not to let such situations to appear, because they can easily break me down because of such emotional pressure. It's sad when you see that you exceed you plan just for a half of the month. Nevertheless, I believe that it's a great idea for elaborating discipline.

earn money is the first thing, how to count later

jsrfund posted:
earn money is the first thing, how to count later

Yes, our main goal is to make money, but to achieve that we need to build knowledge. Money making skills cannot be developed without knowledge and discipline.

For me, it’s about the risk percentage on every trade. I don’t prefer to take numerous trades and my standard risk percentage is 1.5%, although I adjust it before every trade where I think I should risk more or less.

More than 3 back to back losses I walk away. I risk 1% per trade.

Great, it's a great plan. I target 2% per month. Although not targeted in any month. Never worry, keep planning with patience.

For me, Forex is a challenge. It's a game of strategy and discipline. I always use Daily max loss levels for all my trades because it gives me the opportunity to learn every day. By using Daily max loss, I have an opportunity to give back some of my losing trades and win more.