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Leverage question.
Kayzie

Member Since Nov 15, 2020  1 posts Kayzie Nov 15 at 07:06 (edited Nov 15 at 07:08 )
Hi guys,

I'm new to trading. Currently trading on ECN broker. Since ECN broker charge per lot comission.

1) It makes sense if I trade on high leverage right? Since higher leverage means lower lot size = lower comission. Note that I only risk 1% per trade, so high or low leverage only affects my lot size, not my per trade $ size.

2) I'm using position size calculator in myfxbook but is there a way to not re-enter 500 contract size each time I turn it on?

Thx!

LeviSievwright5

Member Since Jul 20, 2020  156 posts LeviSievwright5 Nov 16 at 01:00
You can use 1:50 leverage. This leverage will provide security to your account.

Roberto21

Member Since May 02, 2019  319 posts Roberto21 Nov 16 at 07:29
Before using leverage it is more important to ensure how to manage risk , because leverage contains huge risk for all time. they should trade in low leverage in micro account for avoiding loss, otherwise they can fall a great trouble when market moves at random.

Josuvaphilip

Member Since Oct 09, 2020  20 posts Josuvaphilip Nov 20 at 11:26
Having a solid risk management tool is a must. Before you use leverage you must define your stop loss levels. Know when to enter and exit a trade and always stick to it. Your trade size should depend more on your volume of trade. I always trade micro lots, be it on etoro, cityindex or fxview (my 3 brokers) because at this time in my life I can’t afford to risk a lot. That it's a part time thing for me, adding more money to my main income, don't want trading to become a burden instead of asset and start eating up my money rather than give.

Adribaasmet

Member Since Aug 27, 2017  861 posts Adribaasmet Nov 23 at 11:45
if you think only learning can safe you when trading
, its completly wrong , you have to ensure regular practice session besdies this .

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