@sterlinghelp@Sterling_Bankng
Pls what's going on with your app? I can't see my accounts when I log in, they all show inactive. I also can't reach your customer care on phone.
I need access to my accounts asap...
Remember guys, the goal is not to get rich in one trade the goal is to be able to keep playing and winning the game. If you blow out an account it's game over. Focus on making money, but also focus on ways you can reduce your risk and stop yourself from losing money.
This is a rough formula and should not be used to set stop losses, it should just be your MAXIMUM risk threshold. Stop losses should be where your trading hypothesis is nullified and you believe the market will go the other way. The percentages are simply a rough guide for risk.
On a $20,000 position my Stop Loss should be no MORE than 5% from entry ensuring I can't lose more than 1% of my account
On a $50,000 my stop loss should be no MORE than 2% from my entry ensuring I can't lose more than 1% of my account.
This will prevent you from going bust.
A basic risk management formula is as follows
Risk no more than 1% of your account per trade:
Ex. I have an account of $100,000
I want to risk no more than 1% per trade or $1,000