Swingarm Trading Plan
Establish a daily stop-loss budget by setting a maximum amount of funds to allocate for stops. For instance, setting a limit of $1200 for the day would allow for up to four trades in the session. If all four trades are stopped, the maximum loss for the day would be $1200. Example: 1 ES Contract and 6 Point Stop. $300 Max loss per trade.
Average Account Size
$30,000 x 1% (Risk % Per Trade) = $300
Qty 1 x 4 ES Trades / Day
= $1200 maximum potential cost to operate your trading business per day.
Qty 4 x 4 MES Trades / Day
= $480 maximum potential cost to operate your trading business per day.