Money Management

1. Account Type & Size

Type: Mini Account

Size: $10000

2. Profits Target & Stop Loss

As per Trade Rules

3. Goals

Double the account in one year.

4. Maximum Risk Per Trade is 2 %

2 % in $10000 account = Never Risk > $200 per Trade

5. Maximum Risk at Risk is 10 %

10 % in $10000 account = Never Risk > $1000 at Risk]

6. Calculate Lot Size

In mini account; 1 pips = $1; 10 Pips = $10

If risk per trade $200. Stop Loss = 50 Pips

Lot Size = 200/50 = 4 Lot

Means each pips = $4.

$4 x 50 pips = $200 (maximum risk per trade)