Set up your program
Set this up once before day one. You can update it later. The principle stays the same: measure risk against the money actually at stake.
Choose both risk percentages explicitly from your own plan and account rules. No percentage is preselected or recommended here. The daily stop cannot be below the per-trade risk.
Today's task
Day closed
Open the day
Before your first trade. The daily stop entered here locks for today.
Enter your stop distance to calculate today's position size.
Today's trades
Close the day
Close to the money
Your progress
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