Dapo willis

-15%
(+) 
-15% 
(+) 
30%
(+) 
30%
= 
+30%
($11,200) 
So the ideology behind this is that having proper risk 
management is a very important factor you should always 
have in place. Only risk what you can afford to lose so your 
emotions will not be affected. 
To further manage your risks, avoid trading any major 
economic news events. During those periods the markets 
tend to produce a lot more volatility spikes which may not go 
in your favor.
As a fund manager who trades with a huge capital of my 
investors' money, I only care about my risks more than 
anything else. 

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The Millionaire Trader's Handbook 
Page 51 
How much you are risking should be based on your account 
size and how much you are willing to let go of that amount 
without emotional attachment. 
Before you place a trade, kindly ask yourself these questions: 
How much am I ready to let go of this amount that won't 
affect my emotions?
The earlier you realize that the better you manage your risk. 
But there is usually one factor that tends to be a big deal 
among traders, and that is questions like “what size should 
my stop loss be, 20 pips or 30 pips”?
Most traders think there is one perfect size to place a stop-
loss to minimize losses. But I am here to tell you that no 
perfect size stop loss or technique can tell you where and 
how to place your stop loss. 
I personally place my stop loss below the previous highs or 
lows of the current market conditions. I don't have a one-
size-fits-all. 
With that, if my stop loss RR is 1:1RR, I will trade it as long 
as I have enough reasons why the trade could work out. And 
these same sets of traders will always emphasize having a 
better 1:5RR, 1:6 RR.
There is nothing wrong with that, but if trade setups could 
only give me 1:1RR, I: 2RR, I will trade it. After all, the Goal 
is to make money. 
If you cannot withstand the loss when the price goes against 
you, then reduce your lot size instead. Now, listen. Your stop 

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The Millionaire Trader's Handbook 
Page 52 
loss should not be determined by 1:5RR, 1:6RR, or any other 
fixed ratio. 
Instead, it should be based on current market conditions. 
Let's take USDCAD as an example. Where should your stop 
loss be if we place a buy trade? It should be at the previous 
lows of the market.
This is because you don't want to place your stop loss too 
close to the previous lows of the market. The reason is that 
there is always a high tendency for the price to retest those 
previous lows before moving in your direction. 
If your stop loss is too close to these levels, price can stop you 
before moving as anticipated. So ensure to always place stop 
loss at the previous highs and lows of the market. 
Furthermore, the risk-reward ratio (RRR) should depend on 
the market formation and your lot sizes. There is no perfect, 
one-size-fits-all RRR. 

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The Millionaire Trader's Handbook 
Page 53