One quick tidbit about trading before I sign off for the day and go to the beach in my winter coat, hat and gloves.....one thing I get asked about a lot from people is size. And I can tell you this from experience. If you trade 1, 5, 20, 100 contracts, you need to trade that

Exact size every time you enter a trade. I think the silent killer in trading is when traders take 1-3 trades with Say 5 lots, get stopped out, then the next trade take it with 2 lots, because mentally you are planning for a loser and sizing down to limit the emotional pain.

Problem is, almost ALWAYS that trade works. So you may be down 10-15 points on regular size, take the next trade on half size and need additional R to even get back flat. Your edge should have risk built in, if it’s profitable, understanding you could lose 6-7 straight trades

Then win 13-14 straight. It’s probabilities. But if you lose 6-7 trades on full size and win 13-14 trades on half your size, the math will never add up. Choose a size your comfortable risking. Don’t deviate from that size if your edge is profitable. If you’ve done this

Or are just now recognizing it from reading this, you’ve most likely said “damn, I should of hit that with my regular size” which IMO effects your emotions more then that additional loss. Your size should reflect your risk based on your account. Choose it, trade it, don’t deviate

And when your ready or thinking of sizing up, start that new size on a Monday, and trade it every day for the week. Don’t start on a Wednesday or Tuesday etc, because your mental side will take a beating if you watch your weeks profits dwindle on larger size within your risk.

Enjoy the weekend, get away from the screens and fill your mind with something outside your job. Market will be there Monday