How Much Money Am I Going to Allocate to Each Online Stock Trading Strategy and Setup?
This, of course, is critical. The key is to find an allocation that doesn’t cause any stress, allows the chance for a trade to do its work and doesn’t violate any daily drawdown rules. One of the biggest problems with newer traders is that they are trading way too big in relation to their account size. Online stock trading ten lots on a $10,000 account is like introducing your mistress to your wife. Yes, you can do it, but that doesn’t make it a good idea. The following allocations are based on a per $100,000 basis. The number of contracts or position size to be used is as follows: What Execution Methods Will I Be Using? What Parameters In My Online Stock Trading This is where I decide my primary execution method. Am I scaling in? Scaling out? Getting all in and all out? What is my risk/reward ratio? This is a lengthy part of the plan, as I will write down sample plays for all categories. There’s not room to do that with all of them here, but for the sake of example, here are my parame
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