here's some tips i shared with trade pals on choosing the right trade strategy that suits you
everyone's trade strategy is different and there is not one strategy that suits or works for everyone
key things to consider:
wallet size
risk tolerance
availability
1) wallet size as in the amount you can trade
because....
compare someone with 1k account that scalps $30 per trade
to
someone with $100 account that scalps $3 per trade
honestly is it worth scalping the whole day for $3 per trade ASSUMING you win every trade, you need 10 scalps to hit $30
2) risk tolerance, how much you're risking PER trade
3) lastly, availability
do you have time to trade the market the whole day to do minute scalps?
use these guiding points to craft a strategy that works for you!
#tips
everyone's trade strategy is different and there is not one strategy that suits or works for everyone
key things to consider:
wallet size
risk tolerance
availability
1) wallet size as in the amount you can trade
because....
compare someone with 1k account that scalps $30 per trade
to
someone with $100 account that scalps $3 per trade
honestly is it worth scalping the whole day for $3 per trade ASSUMING you win every trade, you need 10 scalps to hit $30
2) risk tolerance, how much you're risking PER trade
3) lastly, availability
do you have time to trade the market the whole day to do minute scalps?
use these guiding points to craft a strategy that works for you!
#tips