Turtle Soup Pattern. Trade setup in the morning on 15 Jan 2018 with Stop Sell position (EP) at 1328.6, Stop Loss (SL) at 1340 and Take Profit (TP) at 1308.5.
Money Management
I have 17,212 USD in my portfolio. I can lose 10% of the port which is 1,721.2 USD.
Position Sizing
1 Tick = $100
1 Contract size need IM = $3,850 (I can open not more than $17,212 / $3,850 = 4.47 Cons)
It is 11.4 Tick from EP to SL, with 1 Con, I will lose 11.4 * $100 = $1,140
To lose 1,721.2 USD I need to open 1,721.2 / 1,140 = 1.5 Con
Then I will put 1 Contract
Money Management
I have 17,212 USD in my portfolio. I can lose 10% of the port which is 1,721.2 USD.
Position Sizing
1 Tick = $100
1 Contract size need IM = $3,850 (I can open not more than $17,212 / $3,850 = 4.47 Cons)
It is 11.4 Tick from EP to SL, with 1 Con, I will lose 11.4 * $100 = $1,140
To lose 1,721.2 USD I need to open 1,721.2 / 1,140 = 1.5 Con
Then I will put 1 Contract
Order cancelled:
Order haven't be filled. Cancelled pending stop sell