I only risk 1% of my account equity (50,000) resulting in $500 risk per trade. No more than 5 trades at any one time. My RRR is 1:2 and I use the FXCM Risk Calculator to help to determine my trade size. My result is my leverage is usually around 1:2 to 1:4 per trade (lots from 100-200). 4 trades puts my leverage to 1:12 and I want my leverage to be below 1:10 and closer to 1:6.
Since my risk is managed, currently at 4% and less than 5 open trades, what is the actual impact on my leverage or have I just picked a number (1:10 leverage) to make me feel good?
Also, if a trade moves sufficiently in a profitable direction where I can adjust my stop to my entry point or better, thus removing the risk, how does this impact my leverage?
Do I recalculate my leverage without the "risk-free" trade?
Please assist.
Since my risk is managed, currently at 4% and less than 5 open trades, what is the actual impact on my leverage or have I just picked a number (1:10 leverage) to make me feel good?
Also, if a trade moves sufficiently in a profitable direction where I can adjust my stop to my entry point or better, thus removing the risk, how does this impact my leverage?
Do I recalculate my leverage without the "risk-free" trade?
Please assist.
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