Risk: percentage, fixed money or fixed lot

This is the most important setting of all. It decides the size of every trade, and size decides whether you survive a bad run.

The three ways

Percentage of balance. You risk a % of the account on each signal and the lot is worked out from the distance to the stop. This is the recommended option: it adapts as the account grows and, above all, as it shrinks.

Fixed money. You always risk the same amount, say $20. Useful if you want a stable number in your head. Careful: it does not shrink by itself when you lose.

Fixed lot. Always the same volume, whatever happens. This is the most dangerous one: the real risk changes with every signal, because one with a 50-point stop and one with a 500-point stop do not risk the same with the same lot. Use it only if you know why you want it.

What percentage

At 1%, ten losses in a row leave you near 90% of the account. At 5%, near half. Runs of seven or eight losses are normal in any strategy, and they come.

If you have no reason for anything else, 1% or less.

It uses that terminal's balance

Each terminal has its own account and its own balance. The same channel, with the same percentage, opens different lots on each. That is correct.

If the signal has no stop

With no stop there is no distance, and with no distance there is no way to size by risk. You can decide that the signal is discarded, or that a default stop of yours is used: see Stop and targets.