205: Michael Katz – Day Trading: The Questions You Want Answered
Chat With Traders
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How Do You Adjust Your Position Size and Daily Risk After Multiple Red Days?
How do you adjust your position size and daily risk after having multiple red days? Consecutively. And how do you approach it when on a winning stroke? Good question, because we're faced with that every single day. If i'm having a shady run, cut it in half. By whatever my lock out is on the day, cut itin half. And if it's i'm still not running well, cutting half again. But don't try to do it whenever things aren't working. Just cut in half and do less, and then get your footingdand size up when the time becomes right.
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