How many trades is reasonable to have open as long as I trade only 3% of my account on each trade? I see many opportunities but am not sure what is reasonable especially with the expectation that the markets are going to retrace within the near future.
Posted by Charlie Trader on 02 April 2018 03:00 PM

Really the number of trades you have open is a matter of personal comfort. For me, 5 at a time is ok, rarely more.

For one of my most successful students, when the markets are ripe for picking he can go to 20 at a time, and he's quadrupled his account in a year, it gives you a flavour of what folks are doing.

Now, what I mean by "ripe" is when you see a whole bunch of beauties, no news ahead, persistent OVI and you really can't choose between them.

This will happen a few times a year, and it's during these times when triple digit returns can happen and actually do for some of my students, even without leverage.

As I said, I like your thinking ... don't go mad at first.

Just cherry pick your favourites and monitor the others in a watchlist.

As I always say, it doesn't matter what you think will happen, just trade what you see.

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