The number one decision every trader makes when they are getting into a trade is trade size.
The ramifications of this decision are far-reaching.
To prove this, we are going to play a game. I'm going to flip a coin in the air 100 times. When the coin lands heads up, you win 2.00 for every 1.00 you bet. When the coin lands tails up, you lose 1.00 for every 1.00 you bet.
Tails up = +2
Heads up = -1
This game is a "no lose" game. The statistical probabilities are fixed in your favor.
I'm going to give you 100 bucks. Your single, solitary goal is to grow that 100 bucks into as much as possible after just 100 flips of the coin.
It starts with the first flip of the coin. And the only question you have to answer is how much of your 100 bucks are you going to risk on the first flip?
Do you even know where to start?
If you don't, then on what basis are you making your trade size decisions for your actual trading account where the probabilities are NOT fixed in your favor?
This answer, the one that most traders don't have a clue how to answer, is the most important answer when it comes to building wealth in trading.
If you want to know where to start, and what the answer is to the question above, I would strongly suggest you watch this video.
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