the overnight margin is $2,700 or so I think on that contract but it does not really matter. I would trade 5 lots at the most. When i overleverage I almost always lose and when I trade reasonably I trade better. I think it has to do with the psychology behind how i treat money. In other words if you trade with leverage keep your head on straight.
Typical of a man who claims to never lose. Exeryone else gives their point of view, then you come along and say to paper trade? Sad has been. If you never lose prove it live.
2 pts. was not my target, though I did type that 9 is the first 14 is next and the third was managed Chris
when I started, my profit targets were to high, I often would see 15 pts go my way then the position would reverse. I would try to stay calm (even took sedatives to do so) however it would never come back. The targets of 9 and 14 work for me and the third activly managed one has been profitable as well. I made these changes to my trading plan after nearly being wiped out five years ago and this has steadily built my acct back up. THANKS TO THOSE WHO GAVE REAL ANSWERS BASED ON CONTRACTS PER $$ if I were starting out and came to this site with its negativity I would never trade.
There is this great program called Market System Analyzer. It allows you to run tests with all kinds of different position sizing methods. You can create trades based on statistics etc. Put in your account size, commission charges. I highly recommend you check it out. It has a 30 day free trial. You can check out Fixed Risk. Fixed ratio etc. http://www.adaptrade.com/product.htm
Position size should be based on your skills, experience and risk tolerance - this risk 1% or some gibberish position sizing program will get you nowehere and fast
Regardless of someones skill level they can have a string of losses. Some reasonable risk level should be chosen. My personal suggestion was not more then 2% per trade. Anyone can have 3 full stops in a row. 6% loss on a few trades is more then enough for me. I can not see my view on this changing no matter what my skill level.