I does simple trade without complex, but I still think 30:1 is a high leverage and someday looking work without leverage, but my main question is what is best sustainable lot size as start for 22k balance
.05, .010 or .20?
Of course it can be done i didn't say that it was not possible.
But this has got to do with the speed of the growth of the account.
If you were to compare the same trades made on a 1:30 to the same trades on a 1:500 account then you will see the difference.
Yes learned some risks by passing of time and remembered on 15 Jan 2015 peoples lost accounts in seconds $100k
A simple way can work and planning to gain 3% a month but still confuse what should be a starting lot ?
if the end result is an experience by years, and the proper backtest taking all criteria for a reasonable testing environment + lots of other factors that confirms the experience then risk is directly proportional to your appetite of risk
some trades will look like they are 100% confirmed but one will still have doubts and risk little of their account
others will look risky but the mindset will lead to putting more money than regularly
It is only governed by and changeable according to everything that makes your character
i use balance stop loss.
so for $22k , i will only invest about $4k and using 1:500 leverage.
i keep the $18k money in my own bank for backup.
it will only around 4% from your $22k capital if you get stopout.
inside, you will more save keeping your money in your own bank.
its work for me.
This is from WD Gann's book "The WD Gann master stock market course"
But remember that you are not WD Gann and neither am i, he made 264 winner trades in a month
"RULE 7. Amount of capital required. It is very important to know exactly
how much of you capital you can risk on any one trade and never
lose all of your capital. When you make a trade you should never
risk more than 10% of the capital you have to trade with, and if you
have one or two losses, reduce you units of trading."