My biggest challenge is that I have limited trading experience. Also, I need to get a better understanding of the position sizing concept, mostly when applied to FOREX and crypto currency trading. Would you be able to give me a couple examples, taking into account an initial capital of $20k to invest in BTC and XRP for instance ?
I would recommend a step back. I see it more than what you say. A lot more. You need:
• Exact rules for selecting your tracking portfolio.
• Exact rules for entering your trades at the right time.
• Exact rules for exiting your trades with a loss.
• Exact rules for exiting your trades with a profit.
• Exact rules for how much money to bet on each trade.
Great trading is not about some one example or tip. See my FAQS.