Unfixed Mistake Pattern
What repeating error have you noticed but not yet fully eliminated?
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Common unfixed mistake: many traders repeatedly ignore proper position sizing and let a single loss blow a large portion of their account. - Calculate risk per trade (e.g., 1‑2% of account equity). - Use the stop‑loss distance to determine lot size: Position size = (Account * Risk %)/Stop‑loss (pips × pip value). - Stick to the size even if the setup looks perfect – it protects you from daily loss limits and consistency rules that prop firms enforce (e.g., The5ers, FundedNext, My Funded Futures). Why it matters: prop‑firm accounts often have strict daily loss caps and a maximum drawdown. Oversizing a trade can trigger a breach before you even see the trade’s potential, leading to a failed evaluation. Tips to break the pattern: - Pre‑define risk before entering any trade and write it down. - Use a spreadsheet or trading platform calculator to auto‑compute size. - Review each day’s trades; if you exceeded the risk limit, note the cause and adjust. - Consider a fixed‑fractional method to keep risk consistent as your account grows. Feel free to share how you size your positions and what tools help you stay within prop‑firm limits!
