Jun 26 2018 at 10:42
hankway10 posted:
High leverage should go with small lots to effectively control your risks. A lot of new traders fantasize about double their funds with high leverage, but end up throwing their money into the ocean..
High leverage allow high lots
Low leverage allow low lots
Risk is controlled by other tools than leverage
Jun 26 2018 at 11:41
togr posted:hankway10 posted:
High leverage should go with small lots to effectively control your risks. A lot of new traders fantasize about double their funds with high leverage, but end up throwing their money into the ocean..
High leverage allow high lots
Low leverage allow low lots
Risk is controlled by other tools than leverage
Perfect!
Stop loss is and Lot size is the main way that I manage risk. Just because can you a high Lot size does not mean that you have to use one
Jun 27 2018 at 06:04
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500
YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500
It depends on the monitoring authority. Which broker you're using?
togr posted:hankway10 posted:
High leverage should go with small lots to effectively control your risks. A lot of new traders fantasize about double their funds with high leverage, but end up throwing their money into the ocean..
High leverage allow high lots
Low leverage allow low lots
Risk is controlled by other tools than leverage
Yes.
What I'm saying is for those new traders who dream of using small funds with high leverage to flip their profits. I'm just say for beginners it's not a good idea
Jul 06 2018 at 10:34
YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500
Before taking a decision to choose broker, it's necessary to choose your suitable leverage first. Only then would you find the right broker that suits your needs.
In average, brokers offers maximum leverage of 500:1.
Jul 07 2018 at 01:00
YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500
If you are a trader in the United States, then absolutely.
That's the maximum leverage a retail forex trader has available.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500
Could you please share with us, which broker you are using, so we can advise you additionally...
Jul 10 2018 at 06:41
As far as picking a broker, just note and I find it funny that no one has mentioned the following... The broker takes more risk than the client because they offer the leverage. In the case of which a broker goes under, you can kiss you money good bye. Ask the people who lost money even though they werent in CHF pairs when the black swan account happened. No one has shown proof of getting their funds back and FXCM is a REGISTERED COMPANY IN THE US STOCK EXCHANGE NASDAQ. All in all, one needs to find a fool proof system before they even deposit in forex because if you dont, then you will be like tgor and with blown accounts by the dozen. Time will pass and you will have spent so much time and money only to get nothing out of it.
My avatar explains "social trading" perfectly.
Jul 12 2018 at 08:01
I used a UK registered broker (which went under) and I was protected by the government. I got all my money back
Jul 12 2018 at 16:22
goyankees85 posted:
As far as picking a broker, just note and I find it funny that no one has mentioned the following... The broker takes more risk than the client because they offer the leverage. In the case of which a broker goes under, you can kiss you money good bye. Ask the people who lost money even though they werent in CHF pairs when the black swan account happened. No one has shown proof of getting their funds back and FXCM is a REGISTERED COMPANY IN THE US STOCK EXCHANGE NASDAQ. All in all, one needs to find a fool proof system before they even deposit in forex because if you dont, then you will be like tgor and with blown accounts by the dozen. Time will pass and you will have spent so much time and money only to get nothing out of it.
Interesting that you would consider tgor a bad trader with 'blown accounts by the dozen', Especially since tgor is a WELL ESTABLISHED member of the community.
You blew your own acount with a 99.9% DD.
If you are going to participate, at least be somewhat knowledgeable about the subject matter you are discussing.
Attachments:
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Jul 12 2018 at 16:53
goyankees85 posted:
All in all, one needs to find a fool proof system before they even deposit in forex because if you dont, then you will be like tgor and with blown accounts by the dozen. Time will pass and you will have spent so much time and money only to get nothing out of it.
I find it interesting that you decided to delete your BLOWN account so that people wouldn't see the proof.
Attachments:
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Jul 12 2018 at 16:54
Like I said. If you are going to participate, then you should at least be knowledgeable about the subject matter. Thank you.
Also... Here is the link to the archives of the discussion for your blown account. Enjoy.
https://www.myfxbook.com/community/trading-systems/iggymon/1639844,1
Also... Here is the link to the archives of the discussion for your blown account. Enjoy.
https://www.myfxbook.com/community/trading-systems/iggymon/1639844,1
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Jul 13 2018 at 07:35
This isn't the first and won't be the last blown account. I doubt that leverage has anything to do with it. Just poor risk management
Jul 14 2018 at 02:28
Downtobusines posted:
This isn't the first and won't be the last blown account. I doubt that leverage has anything to do with it. Just poor risk management
Trading MULTIPLE full lot sizes on a $200.00 account? That's a newbie trader trying to get rich quick.
High leverage trading and a complete lack of risk management and absolutely NO MONEY MANAGEMENT.
ESPECIALLY against the GBP/JPY pair. That's a great way for a newbie trader to blow an account.
Attachments:
If it looks too good to be true, it's probably a scam! Let the buyer beware.
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