Applied B&B Pattern. Trade setup with Buy Limit position (EP) at 1332, Stop Loss (SL) at 1322 and Take Profit (TP) at 1360.
Money Management
I have 17,800 USD in my portfolio. I can lose 10% of the port which is 1,780 USD.
Position Sizing
1 Tick = $100
1 Contract size need IM = $3,850 (I can open not more than $17,212 / $3,850 = 4.62 Cons)
It is 10 Tick from EP to SL, with 1 Con, I will lose 10 * $100 = $1,000
To lose 1,780 USD I need to open 1,780 / 1,000 = 1.78 Con
Then I will put 1 Contract
Money Management
I have 17,800 USD in my portfolio. I can lose 10% of the port which is 1,780 USD.
Position Sizing
1 Tick = $100
1 Contract size need IM = $3,850 (I can open not more than $17,212 / $3,850 = 4.62 Cons)
It is 10 Tick from EP to SL, with 1 Con, I will lose 10 * $100 = $1,000
To lose 1,780 USD I need to open 1,780 / 1,000 = 1.78 Con
Then I will put 1 Contract
Trade closed: target reached:
TP 1360 Reached