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It is truly amazing how many traders trade beyond the means of their account.
Many reputable brokers try to advise their clients on moderating their trade size to their account value. But the advice often goes unheeded.
A wise man learns from others mistakes - so be wise.
So how many shares, contracts, currency can I safely trade? There is no one single answer - but there are two reasonable questions:
• What is the maximum number of sequential losses, (each loss being the highest
you have experienced), can you cope with both financially and psychologically?
• Are you happy with this?
A more sophisticated answer can be derived by looking at risk of ruin.
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