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My concern on lot commissions

Member Since Oct 29, 2020   35 posts
Jan 14, 2021 at 12:36
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.
Member Since Oct 07, 2020   104 posts
Jan 15, 2021 at 04:15
advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.
You should first gather all the knowledge and then place the trades.
Member Since Oct 29, 2020   35 posts
Jan 15, 2021 at 12:30
richardmarcus posted:
advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.
You should first gather all the knowledge and then place the trades.
Wouldn’t simultaneous practice be a better idea?
Member Since Oct 07, 2020   104 posts
Jan 16, 2021 at 04:47
advancedsmifser posted:
richardmarcus posted:
advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.
You should first gather all the knowledge and then place the trades.
Wouldn’t simultaneous practice be a better idea?
yea practice on demo accounts will be better
yana hansen (78678676)
Member Since Oct 16, 2020   137 posts
Jan 16, 2021 at 12:00
Going live with not much knowledge of the market is a mistake. Please use demo account.
Member Since Oct 07, 2020   104 posts
Jan 18, 2021 at 03:59
78678676 posted:
Going live with not much knowledge of the market is a mistake. Please use demo account.
yea i have suggested him the same thing
Gushenman (Gushenman)
Member Since Apr 26, 2013   3 posts
Jan 18, 2021 at 10:00
***RULE 1.
Stop loss 'must below 7%'
Don't flow the trade in a long time
Member Since Oct 29, 2020   35 posts
Jan 18, 2021 at 12:49
78678676 posted:
Going live with not much knowledge of the market is a mistake. Please use demo account.
How about micro accounts? For a more realistic approach
Member Since Jul 19, 2020   788 posts
Jan 19, 2021 at 01:42
advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.
Yes, you should gather knowledge first. It is never possible to trade without acquiring research and knowledge.
Sar John (Sarjohn)
Member Since Dec 28, 2020   187 posts
Jan 19, 2021 at 11:42
Placing that many lot sizes when you are just gathering knowledge is not a good idea, first develop a good strategy and practice on demo.
Member Since Oct 29, 2020   35 posts
Jan 19, 2021 at 12:37
Gushenman posted:
***RULE 1.
Stop loss 'must below 7%'
Don't flow the trade in a long time
Hmm, I was thinking between 10 and 15, bad idea?
Member Since Oct 29, 2020   35 posts
Jan 19, 2021 at 12:38
AliaDare posted:
advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.
Yes, you should gather knowledge first. It is never possible to trade without acquiring research and knowledge.
I am actually doing that, in fact I’m on the verge of thinking if I’m overdoing the learning bit :) should just take the plunge now I suppose
Member Since Jun 30, 2020   47 posts
Jan 19, 2021 at 12:52
Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.
Member Since Oct 23, 2020   37 posts
Jan 20, 2021 at 10:41
You can contrast 2 or 3 brokers as per their commission rates and go with the one that is the lowest.
Member Since Sep 30, 2020   58 posts
Jan 21, 2021 at 09:48
No one wants to spend so much on commissions and because of that a lot of new traders end up using very low cost brokers and get scammed. So don’t just look for the commission rate and try to analyse other aspects as well. If you find a broker that is too good to be true, don’t trade with it. There will be some hidden surprises there.
Member Since Oct 29, 2020   35 posts
Jan 21, 2021 at 11:45
Is anyone here using a no-commission broker?
Member Since Jun 30, 2020   47 posts
Jan 21, 2021 at 13:09
advancedsmifser posted:
Is anyone here using a no-commission broker?
I honestly prefer brokers with lower commissions and tighter spreads. As long as the commission cost is less, I don’t mind paying that in lieu of low spreads.
Member Since Oct 29, 2020   35 posts
Jan 21, 2021 at 13:18
Sarjohn posted:
Placing that many lot sizes when you are just gathering knowledge is not a good idea, first develop a good strategy and practice on demo.
I have been practicing use of RSI, MACD and bollinger bands while keeping my trade open for several hours and in some cases days. I have been thinking I have reached a point of stagnation from where I can only learn if I put in some real bucks.
Member Since Oct 07, 2020   104 posts
Jan 22, 2021 at 04:32
Gleywilleyy posted:
Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.
True that do u know any??
Member Since Nov 02, 2020   34 posts
Jan 22, 2021 at 07:56
Gleywilleyy posted:
I honestly prefer brokers with lower commissions and tighter spreads. As long as the commission cost is less, I don’t mind paying that in lieu of low spreads.
My approach is also same. That's why went with fxview, $2 commissions RT and low spreads.
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