Hey lex, long time no speak 
... I've been reading over everythin for the past couple weeks and I want to ask why you felt like moving up contracts?
increasing your position size doesn't mean you have to increase your risk amount, in fact you should rarely change your risk amount per trade, it should always be based up per tick. so you should gauge your max loss, usually for people who scalp or trade off the 1 minute charts, something like .1%-.5% of your total account and then base the amount of contracts off that.
This does a number of different things LL....for one, it eliminates the psychological effect of trading with more money at risk, so you don't feel the pressure of higher position sizes, since you already know the predetermined risk amount every time. and two, you won't get wiped out when you've been performing well at one size but then step up and 3 or 4 bad trades in a row wipe out all of the good you've done with the smaller size. Risk management and money management are the two most important things of this game...they say most traders spend majority of their weeks breakeven to down a little, preserving their capital, and waiting for those 1-3 weeks where they make a killing. Don't get frustrated, just step back take a lot at your setups, what you did wrong, what you did write and objectively analyze it. also spend more time with your trading plan constructing sound money and risk management sections.
If you want to view a sample of mine or just some other overall questions about it feel free to contact me or let me know.
Good trading to ya!!
dubs
... I've been reading over everythin for the past couple weeks and I want to ask why you felt like moving up contracts?increasing your position size doesn't mean you have to increase your risk amount, in fact you should rarely change your risk amount per trade, it should always be based up per tick. so you should gauge your max loss, usually for people who scalp or trade off the 1 minute charts, something like .1%-.5% of your total account and then base the amount of contracts off that.
This does a number of different things LL....for one, it eliminates the psychological effect of trading with more money at risk, so you don't feel the pressure of higher position sizes, since you already know the predetermined risk amount every time. and two, you won't get wiped out when you've been performing well at one size but then step up and 3 or 4 bad trades in a row wipe out all of the good you've done with the smaller size. Risk management and money management are the two most important things of this game...they say most traders spend majority of their weeks breakeven to down a little, preserving their capital, and waiting for those 1-3 weeks where they make a killing. Don't get frustrated, just step back take a lot at your setups, what you did wrong, what you did write and objectively analyze it. also spend more time with your trading plan constructing sound money and risk management sections.
If you want to view a sample of mine or just some other overall questions about it feel free to contact me or let me know.
Good trading to ya!!
dubs
