I would like to discuss what other traders do in order to adjust their position size based upon the price/beta of the position. It seems like traders talk so much about this trade or that trade, but nobody ever seems concerned with how big of a position to carry. The longer I am in this business, the more I realize that having the right position size will make or break me. Anyway, I have developed a simple Excel calculator that I use to calculate my position size based on the stop loss of the trade, my account equity, and the amount I am willing to risk on the trade. In other words, I have personally found that risking a maximum of 1 - 2% of my total trading capital per swing trade is a good starting point because it allows me to "live to fight another day" in the event of a string of bad trades. However, for intraday trades, 0.5% is the maximum I typically risk. Using a one percent maximum risk and a $25,000 trading account, the maximum dollar amount I would risk on each trade is $250 (1% x $25,000). Notice that I am calculating the 1% risk as a percentage of actual capital, NOT including margin. Once you have established the maximum dollar amount of risk you are willing to take on each trade, you can work backwards through an equation to calculate the maximum number of shares you should be taking on any given trade, based on your maximum dollar loss limit and the stop loss of the trade. Here is the formula I use: Account Equity * Maximum Percentage Risk per trade = Maximum Dollar Loss Per Trade Maximum Dollar Loss Per Trade / Actual Stop Loss = Maximum Number of Shares Anyway, I have attached the calculator to this message if anyone wants to check it out.