How To Set Up A 2% Trade (Example)

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
You should do this on every trade you make, because right risk management will keep you trading - and not blowing your account.

If you remember 4 thing before entering any new trades:

1) Right Pair
2) Right Price
3) Right Session
4) Right Time

Yes, 4 out 4 is best above- but I will go with 3 out of 4 of above, if other things are supporting a trade.

*Then this will help you int lining up any news trades with high liquidity and volume , especially if you are day trading or scalping.

Use Forex Pip Calculator and NO you do not have to use standard size lots when trading (100,000 units)- this example is 70,000 units related to risk management and to adjust to 18 pip loss and target of 52 pips. *You can use standard lots, mini lots or micro lots- trading Forex is long game not short game.

Good luck and Good Trading!!!