I don't know your current situation, but I'm young and am able to blow this money.
The idea behind what I'm doing is trying to gain 1% a day. So if I have $1,000, 1% is $10. So either decide if you want $1/pip for 10 pips, $.5/pip for 20, or $.1/pip for 100 pips.
Considering I hold for longer periods, that $.1/pip per $1k balance, works ideal because 100 pip gains are not very difficult for us long term traders.
The reason I do this is simple. I know sooner or later I am going to have enough saved up which will allow my 1% days to be meaningful, $50k-100k balance, ($500-1k a day @ 1%)
Last month I grabbed 120%, and this month I was up 30% so I'm not TOO upset over a large loss and although it's not really the same MM as shown above, it's close enough to determine how well I would do with those rules set.
Sometimes gotta take the loss, 99% of the time what we see from EU never happens. ;-)
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