Understanding Position Sizing Beyond The Basics
It's easy to fixate on entry/exit, but position sizing—determining how much capital to allocate to a trade—is arguably more critical for long-term survival, especially when markets like $CADJPY are showing decent intraday ranges (113.982-114.633 today). The real trick isn't just a fixed percentage of capital per trade, but rather adjusting that percentage based on the specific trade's volatility and the distance to your stop-loss, ensuring each trade carries a roughly equivalent dollar risk.
Absolutely, this is a topic that doesn't get enough attention. I've found that moving beyond a fixed percentage to dynamic sizing based on volatility, or even probability, can make a huge difference in drawdown management. Have you tried incorporating expected move calculations into your sizing?