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It is important to notice the Relative Strength Indicator remains below the key “50” level. Index weekly chart remains in a Primary DOWN Trend.

Closing above 5727 by the end of this week is required to show buyer support for the market.

Further closes below this level bring the long term trend line into play at 5600 points.

Position size and management guidelines

Building a trading system on simple rules requires a money management process.

As an example, should 1% of the account size be risked on an individual position, the position size can be calculated.

Here is the guideline, this allows the trader to build an R- (risk) based return.

Position size and management guidelines

The distance-to-stop is the $ amount risk. Dividing the distance to stop into 1% of the account size gives the position size.

The lower stop displayed will have a smaller position size. Profit taken on the trade can then be measured against the risk.

For example:

The distance-to-stop is 20 cents and the account size is 10,000. Using 1% ($100) of the account, divide the $100 by 20c. This gives a position size of 500 units.

FP Markets Black White Report

The lower stop loss is 50 cents away. Using the same methodology of a 1% of account risk, the position size is 200 units.

The information in this report is of a general nature only. It is not personal financial product advice. It does not take into account your objectives, financial situation, or needs. You should therefore consider the appropriateness of this information in light of these. The Australian school of technical analysis ( ASTA ) recommend that you refer to the Product Disclosure Statements of any financial products which are discussed in this report before making any investment decisions. ASTA accepts no responsibility for your actions and recommends you contact a licensed advisor before acting on any information contained in this general information report.

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