Understanding Position Sizing: Not Just How Much, But How Smart
Alright folks, let's talk position sizing, because throwing money at the market like a drunken sailor with a lottery ticket is a quick way to regret. It's not just about how many shares of $FI you can afford at $63.8; it's about defining your acceptable loss before you enter the trade. If your stop on $XYZ is at $77.00 and you buy at $78.93, that's almost a $2 risk per share. Calculate how many shares you can own so that if that stop gets hit, you don't blow up your entire trading account, or even just a significant chunk you can't emotionally recover from. Preservation of capital isn't just a fancy phrase, it's the only way you get to play another day.
It's a solid point about defining the acceptable loss first. However, even with good position sizing, a series of small losses can still add up quickly if the win rate isn't there to support the strategy.