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What trade size and leverage to use in forex?

ele020 (ele020)
Jan 25 at 03:51
211 posts
Kylealker87 posted:
ele020 posted:
If you have to start your trading journey , %0X leverage and micro lots is the correct thing. Do no go with higher leverages.

Without any leverage at all I won’t be able to gain anything, my trading capital’s not much.

hahhaa that's funny, I just noticed, I meant 50X and not Zero. Thank you for letting me know my typing error. And 50X is enough to start with. I don't recommend more than 50 if you have just started trading. Try smaller trade size, its okay to grow slow with small trade sizes rather than blowing up your capital completely.

The more your practice, the more you learn.
inspirenez
Jan 25 at 04:46
59 posts
irkedduff posted:
Can somebody please recommend some brokers that offer small trade size? I was keen on going with IG but found out they don’t offer micro lots.

Where did you check, I have traded micro lots on ig, but not across all markets do they give this small trade size, so that must be the reason. Anyhow here are some reputed brokers offering micro lots:
Oanda
Fxview
Pepperstone
Swissquote

Mikehussey
Jan 25 at 08:22
58 posts
irkedduff posted:
Can somebody please recommend some brokers that offer small trade size? I was keen on going with IG but found out they don’t offer micro lots.

For small capital traders even Alpari and FXTM are good choices.

asidefellow
Jan 27 at 10:27
37 posts
Practice thoroughly your risk management on a demo account and then only use leverage. And start small.

fafduplesis
Jan 27 at 12:42
25 posts
irkedduff posted:
Can somebody please recommend some brokers that offer small trade size? I was keen on going with IG but found out they don’t offer micro lots.

Micro lots are the best. Just by observing price swings you will know how the markets usually function.

Kroolsc
Jan 28 at 04:48
19 posts
I am a demo account user here, I have been trading for 4 months now, with a drawdown of around 20% on both my trading accounts (demo) with cityindex and fxview. I have installed all possible alerts and using forex steam EA, should I start live trading on perhaps micro lots with the same brokers?

8christianpaul8 (8christianpaul8)
Jan 28 at 04:59
87 posts
I don't see any reason why not. Yes, it's best to start a small account first to get your skin in the game. If you would still follow the same principles you learned in demo and still profitable for the next few months, then go ahead and add more funds.

Trading is a marathon, not a sprint.
asidefellow
Jan 28 at 11:19
37 posts
Kroolsc posted:
I am a demo account user here, I have been trading for 4 months now, with a drawdown of around 20% on both my trading accounts (demo) with cityindex and fxview. I have installed all possible alerts and using forex steam EA, should I start live trading on perhaps micro lots with the same brokers?

If they are working well for you and you are comfortable using them then why not?

Numeromatt
Jan 28 at 13:32
38 posts
Kroolsc posted:
I am a demo account user here, I have been trading for 4 months now, with a drawdown of around 20% on both my trading accounts (demo) with cityindex and fxview. I have installed all possible alerts and using forex steam EA, should I start live trading on perhaps micro lots with the same brokers?

No matter which broker you use you won’t get the same results as you were getting on your demo account, so it doesn’t matter.

inspirenez
Jan 29 at 04:55
59 posts
First make a strong trading plan, of which leverage should not be a part. If you can’t make profits without leverage then you shouldn’t be trading at all.

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