Understanding Position Sizing in Practice
Position sizing isn't just about risk per trade; it's about managing your overall portfolio equity. If you consistently risk, say, 1% of your capital per trade, and that capital is $100,000, your max loss on that single trade is $1,000. This discipline helps prevent a string of losers from wiping you out, particularly when encountering unexpected volatility or market shifts, which can happen even in relatively stable assets like $AUDUSD, currently hovering around 0.68955.
While 1% is a common benchmark, I've found that dynamically adjusting position size based on current market conditions and my win rate is far more effective. Sticking rigidly to 1% can leave money on the table or expose you to unnecessary drawdowns.