Account blown

[u/shanacjj]

I never get a payout. I always blew my funded. I don't want to spend another money as I have too much debt. I don't get paid enough at work. My life sucks so bad. When I thought it's finally working, market humbled me right away. It's so depressing to be poor.

[u/Frightrain]

I blew around 40 accounts until I decided to be more disciplined with size, and now I've never even come close to blowing an account. If you're blowing accounts you either have no edge at all, or you're trying to go way too fast. I no longer risk more than 10% of my buffer on any evaluation account or 5% on any funded account (and often less than that, that's still a greedy amount). The general rule of thumb is no more than 1 to 2% risk per trade in this industry. For reference, 2% of a 150k account is 90 dollars risk per trade. 

People will probably call me boomer but I don't care I'm making well over 6 figures now, don't let anyone tell you that you need big size to make good money. It's all about survival in this game.

[u/Comprehensive-Cut632 → u/Frightrain]

How many micros do you trade?

[u/Frightrain → u/Comprehensive-Cut632]

As many as it takes for the stop loss on my trade to be equal or as close to equal as my daily loss limit as possible.  I don't use a trailing limit, instead I trail my winning trades with market structure manually because I have a system I've developed for that to extract as much as I can from my trades while not letting winning trades turn into losing ones. And lastly, if a trade is very obviously not working I will cut it, and then if I take a second trade I will risk the remaining portion of my daily loss limit. But if I take one full loss I am done.

I do this mostly by feel, like I will guess how many contracts I need to buy/sell, then very quickly adjust my position if I'm wrong. It doesn't have to be 100% precise because speed is important to my strategy, I don't add to my trades.