A few hours till Throwback Thursday, but let me remind our newest readers of our indispensable planning tool, the Calculator.
As traders, we have to make sure, apart from having rock-solid psychology, that the numbers are on our side. Because if they're not, we have no fighting chance. We're up against the pros, remember?
So basically, there are two scenarios:
a) say, you have ten grand and you want to trade, and bring it up to twenty. So far so good. But trade what? And with what system? What's the risk involved?
b) or, you have just developed a fantastic system on your fav instrument, and you want to know how much money you'll need to put behind the system to survive the bumps.
In both cases, our calculator comes handy. While there's no absolute certainty in this business (is there in anything?), the Remek! Calculator can help you get a pretty good picture on the viability of your plan. (Hint: keep Risk low.)
Happy calculating and mindful trading to all!
PS: eager to trade live, but not quite ready yet to swim in the deep end? Check out the M6E, a reasonably liquid instrument during regular hours, and one tenth of the 6E. Just make sure you apply the same discipline as with the standard contracts!