100 lots to start off!
Mar 17, 2021 at 07:30
williamhayes posted:So the type of lot can be micro, mini or standard right?leecopp posted:The position size is usually determined by the number of lots. It also depends on the size or type of lot that you buy or sell in a trade.
Does position size have anything to do with the number of lots and making the trade profitable?
Mar 22, 2021 at 08:10
tinklesmoker posted:If you are doing good on demo then you can certainly proceed to live trading but for being on a safer side I would say place trade with micro and mini lot size first.Sarjohn posted:I have been doing pretty fine on demo.
If you are a new trader then You are taking a lot of risk, first try a demo if you feel that you won’t lose then go for live trading.
Member Since Jun 29, 2020
28 posts
Mar 23, 2021 at 09:46
While trading, focusing on risk management is quite essential otherwise you can make your account zero immediately. Somewhere, trading larger lots shows the greed of a trader. It might look attractive but bites in the end. Better be careful about the decisions you make.
Member Since Jun 29, 2020
26 posts
Mar 23, 2021 at 12:59
I trade small lots in different positions with oanda for a good edge in the market. You have the option of closing some and letting others run whenever the need be.
Mar 25, 2021 at 09:45
As you have asked it here, you will get answers one way or the other. But it’s how it worked for others. I suggest first test different trade entry methods with a backtesting program and forward test your system in live market conditions. For both of these, use your demo account and not the real money account.
Member Since Jun 22, 2020
5 posts
Mar 26, 2021 at 10:37
Smaller positions are obviously a better option as you can scale out of them quite easily.
Member Since Jul 09, 2020
4 posts
Mar 30, 2021 at 11:06
keatonrichard posted:True that! To add to it, I would also like to mention that irrespective of what position size you trade in, make sure that you have a safe stop loss associated with it.
The choice of the right lot size depends on your success rate. Don’t skip things. If you have a success rate of 90% or more, bigger lots are an option. But if you are yet figuring out what works and what doesn’t, don’t waste your money on bigger lots. Go for smaller ones.
Member Since Jun 29, 2020
26 posts
Mar 31, 2021 at 05:37
I think fewer trades are better as every time you trade, your broker takes away a certain amount in either commission or spread or both. Also, consider your risk to reward ratio. You don’t have to trade more frequently if you trade small lots.
Member Since Jun 23, 2020
26 posts
Mar 31, 2021 at 11:18
Get the basics right first. Get the proper training and then, commit any hard earned money in forex.
Apr 09, 2021 at 07:57
tinklesmoker posted:If you are confident that you will gain a good amount of profits, then place a big lot size and try, but make sure that you invest that much capital which you are ready to lose as forex is a very unpredictable market.Sarjohn posted:Ya, but I want “real profits”.tinklesmoker posted:If you are doing good on demo then you can certainly proceed to live trading but for being on a safer side I would say place trade with micro and mini lot size first.Sarjohn posted:I have been doing pretty fine on demo.
If you are a new trader then You are taking a lot of risk, first try a demo if you feel that you won’t lose then go for live trading.
Member Since Jul 23, 2020
759 posts
Apr 10, 2021 at 11:33
ceceliagreer posted:Even trading with 100 lots with high capital is risky. Set your lot size according to your trading plan and experience.
It depends on your total capital and how much you are willing to trade and invest. If you have a higher capital, you can surely go with 100 lots.
Member Since Apr 03, 2021
12 posts
Apr 21, 2021 at 11:03
Yes, that is the right way to start and you can easily trade as per your capital. It totally depends on you.
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