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Hello,
I am a beginner trader on the journey to profitability and I was hoping I could get some help with managing risk.
In scalps I often scale in as Al recommends and it really helps to make my scalp profitable. However I often find that I am sizing up more than I can emotionally tolerate because it is hard to keep track of how much risk I am taking when I add an addition 2 or 3 contracts. Is there a trick you use to quickly calculate your risk when scaling into a trade to prevent oversizing? Or do you just develop this ability over time with practice?
Do you set maximum daily loss limits for yourself? Max loss limits per trade? Is this different for different types of trades? Do you risk the same amount on each trade or does it vary?
