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I can't remember where I heard this from, but it is what now guides my risk per trade. "If you can't grow your account risking $1, then how are you going to grow your account risking $100." That is why after about 10 months of trading live, I figured out that my risk per trade was not adding up with what my profit target goal for the day. I was looking to make $50 a day, but I was risking $30 per trade with a rule of trading a max of 3 trades within the day. As you can see, it makes no sense. I was willing to risk $90 within a day to make $50. Yeap, I was completely focused on the wrong thing and my math did not add up. So I changed it, I base my risk off a $5000 account as this is what BBT teaches is the minimum to trade with. The calculation of risking 1% of $5000 a day was $51 to make 2R or $102. Since, I am willing to take 3 trades within the day, my risk per trade is now $17 per trade. This has done wonders for my equity curve and even allowed me to survive a huge draw down when I introduced a new strategy in September. I recommend figuring out the math on what you are comfortable losing in a day and than figure out what to $risk per trade, so when everything goes wrong, you still are within your risk tolerance at the end of the day.

This is a good topic and we can put something together on this. We will put a rush on getting this done.

Hey Skye, I have a hotkey that you can double click the chart, hit a hotkey and it will buy the correct shares and set a stop. I also have a separate hotkey where you can double click your stop and it will put a range order in for 2:1. If you’re interested in either of these let me know. My biggest project now is trying to figure out how to combine the 2 hotkeys into one. I would like to double click my chart at the stop, hit one hotkey and that will enter the position and put a 2:1 range order in. Let me know if any other this would help you out. Thanks !

I was looking for the daily score card that Brett Steenbarger suggests but couldn't find anything to incorporate in my journal so I came up with my own custom journal. I borrowed a lot of what Robert has in his journal template and made an excel file that is formula driven when the trade log is exported and pasted into it. I copy the day tab that is currently labeled "04.25" and pull in my trade log from Das in there, then update the Summary sheet tab using the existing Hlookup formulas. Here's a copy of the file if anyone is interested. https://drive.google.com/open?id=1WcUmRE2lMy3jyf8UICQXdRXU1m7LUFgk