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Deciding Lot Sizes (My Method)A crucial decsion traders must make on each and every trade they take is lot sizes. What's the ideal lot size to take? What's the metric in which a trader uses to solve this ordeal? Here's my method: 1.) Start off with a high lot size. Say....7 normal lots. 2.) At this point, when imagining trading with this lot size you should feel a sense of anxiety, nervousness or even excitement. 3.) Bring down the lot size by 1. 4.) At 6 lots ask yourself, "Do I still feel any sense of anxiety, nervousness or excitement? If you do, bring down the lot size by 1. 5.) Repeat this process until you don't feel any "slight" sense of anxiety, nervousness or excitement. 6.) Using the above mentioned process, if you reached 3 lots, further bring down the lot size by 1. 7.) The outcome is 2 normal lot sizes. - Using this process to find the ideal lot size eliminates a host of unwanted phycological issues that can deter how you : analyze price, decide targets/stop loss, and how you manage an open trade. - I've read and heard various methods over the years, but after close to 20 years of trading, this is the method I currently use. That's it! I hope it helps! Ken
Education
by TradingForexPriceAction
3
WISH: FOLLOWER REQUEST / SQUEEZE??? / CONVERGENCE / LOTTO PLAYDESCRIPTION: In chart above I have included an analysis of TICKER SYMBOL WISH as per follower request. Despite it's short market history since IPO price action has seen plenty of volatility and has broken many fundamental supports and has fallen into PENNY STOCK TERRITORY. With that being said refer to FULL CHART LINK DOWN BELOW to see what I am talking about. POINTS: 1. CURRENT DEVIATION is at 0.9. 2. Ceiling for current price action stand at 4 Points while new floor threshold stands at 0.4 3. DOWNTREND MOMENTUM has given way to a DESCENDING TRIANGLE PATTERN. 4. MA'S indicate a tightening of price action (MA LEVELS = 45, 100, 200). 5. MACD indicates POTENTIAL SQUEEZE UNDERWAY with little DEVIATION from MEDIAN. 6. RSI currently does in fact show signs of overbought pressure with current levels oat 64.97. IMPORTANT: In order to exit PENNY STOCK TERRITORY price action must eventually rise above 4 points to once again be in congruence with previous ALL TIME HIGH. SCENARIO #1: In a bullish scenario I would only consider a long position if price action is to break above 1.0 to the upside this would confirm current setup and can give way to a potential squeeze. SCENARIO #2: In a bearish scenario I would consider a shorting position if price action falls anywhere below 0.4 and would not hold any actual stock at that point. FULL CHART LINK: www.tradingview.com NASDAQ:WISH
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by DGSTBROKERACC
1