Rules for my robots and money management going forward.
- the maximum daily risk for $100 account is 5% (reduced for larger accounts)
- my current risk is a way to high
- my current strategy waits too long to get into a trade and usually gets in near the top or bottom
- currently, I have a good profitable trade ratio because of the very wide SL. Reduce SL will change this for the worse but it must be done
- currently I trade almost 10 pairs at a time. Too many and for sure my risk goes way beyond 5%. Focus on majors for now.
Pairs I Will Be Focusing On
- EURUSD
- USDJPY
- GBPUSD
- USDCHF
- AUDUSD
- USDCAD
I may trade other pairs if conditions warrant but because of the 5% rule, the above 6 will get preference.