Talking with some friends, I found that many of their positions are opened arbitrarily or fixedly



So here I want to share a position management method I have been using

The size of each trade depends on the maximum loss you can accept per trade and the stop-loss point

For example, if I can accept a maximum loss of 1000 USD, and the stop-loss is 3% away from the current price, then the maximum position I can open is 33,333 USD
For instance, I just opened a long position $siren , with the stop-loss set at the previous low
There is a 20% gap, and if I can accept a maximum loss of 1000 USD, then the maximum I can open for this trade is 5000 USD
Reminder: Always set an automatic stop-loss when opening a position; don’t just keep it in your mind
SIREN2.05%
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