I will give you free trading tips, go long on EU, GU , GBP JPY , EURJPY with small lots and leave it for the month, watch as it grows between 100 - 500 pips before month End.
If you do not know how to calculate the proper lot size for your account look at this.
$1,000 account - open only 0.01 lot per trade.
$10,000 account 0 open only 0.1 per trade.
Hope this helps , Let me know your results by month End.
Hi Femi Shitu,
I think lotsize is not only calculated based on account balance. You need to know the pip value too. For example, for Micro account, 1 pip is $1 and for standard account 1pip may worth $10.
So if let say somebody account is standard account with 1pip = $10 and it opens EURUSD 0.01lotsize, after 80pips of equity draw down, this account is having -$800 of DD and I am sure this account will get into margin called.
On the other hand, if his account is Micro account with 1pip = $1 and it also opens EURUSD 0.01lotsize, after 80pips of equity draw down, this account only down by -$80 which is only having equity DD of -8%.
So I think we always need to look into pip value before deciding on lotsize vs. account balance.
Just my point of view for traders here.