Just curious if I’m doing it right.

It depends on your risk tolerance, but a common approach is to set a daily loss limit of 1-2% of your account balance. This helps protect your capital while still allowing for some flexibility.

So not sure if you know but worth asking. When using leverage 1:20 you in theory risk more on the same 1% of account. How to calculate let’s say real leverage if you using 60% of your account with 1:20? I did read that formula a year ago but can’t find it anymore. From what I remember if I will use a higher amount of the account the real/actual leverage is in fact much higher then 1:20