My concern on lot commissions
Member Since Nov 18, 2020
26 posts
Feb 24, 2021 at 04:51
Fabiandelph842 posted:Ya, different brokers suit different types of traders. You will have to do your own research and testing to find a suitable broker for your needs. You can check their features and see whether they match what you are looking for.advancedsmifser posted:There will always be both negative and positive reviews. It is up to you what you want to believe. You better give demo trading a chance and then make your decision rather than depending solely on what others believe.
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
Member Since Oct 29, 2020
35 posts
Feb 24, 2021 at 12:34
leeson12 posted:I don’t understand...demo trading IS done through a broker right? How else does one do it?advancedsmifser posted:demo trading in? are you talking about just demo trading or with broker?
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
Member Since Nov 17, 2020
19 posts
Feb 25, 2021 at 05:54
jamesmaxwell52 posted:Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Member Since Oct 07, 2020
104 posts
Feb 25, 2021 at 06:38
Garyneville221 posted:I completely agree with you on thisjamesmaxwell52 posted:Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Feb 25, 2021 at 07:24
Garyneville221 posted:So true. It can be very useful if you can also learn how to do money and risk management.jamesmaxwell52 posted:Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Member Since Oct 29, 2020
35 posts
Feb 25, 2021 at 12:49
robindude posted:Any tips would be helpful, I am as it is not risking more than 1%Garyneville221 posted:So true. It can be very useful if you can also learn how to do money and risk management.jamesmaxwell52 posted:Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Member Since Nov 10, 2020
23 posts
Feb 26, 2021 at 04:49
It’s good that you are aiming at making great profits in the forex market. But if you focus solely on making money, you won’t get what you want. It is your skills that get you profits in the long run.
Member Since Oct 07, 2020
104 posts
Feb 26, 2021 at 05:19
PercymcDonnell54 posted:rightly said
It’s good that you are aiming at making great profits in the forex market. But if you focus solely on making money, you won’t get what you want. It is your skills that get you profits in the long run.
Member Since Jul 06, 2020
28 posts
Feb 27, 2021 at 12:06
Garyneville221 posted:Yes, it is smart to start small and keep the investments low in the beginning. Also a good idea to risk a small percent of your trades to stay in sync with risk management.jamesmaxwell52 posted:Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Member Since Jul 23, 2020
869 posts
Feb 27, 2021 at 17:29
PercymcDonnell54 posted:In my opinion, traders should focus on learning rather than making money.
It’s good that you are aiming at making great profits in the forex market. But if you focus solely on making money, you won’t get what you want. It is your skills that get you profits in the long run.
Member Since Oct 01, 2020
49 posts
Mar 01, 2021 at 09:58
Some newbies only look at profits which is not at all a good thing to begin with. Focusing on developing new skills and learning new things about forex is the way to go. Just looking at profits and money can be dangerous for them.
Member Since Jun 23, 2020
29 posts
Mar 01, 2021 at 11:56
You don’t have to compromise with the profit margins when you clearly have the option to switch your broker. Just pick one with a lower transaction fee and you’ll be fine.
Mar 01, 2021 at 12:02
advancedsmifser posted:1% is fine, even 2% is the maximum that many can hope and to achieve without risking too much. I have been getting 1.5% to 2% risk management for the most of my trades and I am pretty happy with that.
Any tips would be helpful, I am as it is not risking more than 1%
And for the tip, pick one pair and try to stay trading with the same one. And consider using limit order.
Member Since Oct 01, 2020
49 posts
Mar 02, 2021 at 09:54
Johnathankim posted:I kind of agree with you on this one. I had the same issue but then a friend suggested I should move to another platform that was charging less. I also did the same a while back by shifting to Etoro and Fxview. The commissions have been low. And I only trade major currencies, mostly eurusd, so the spraed cost is also manageable. Makes a slight difference but even a marginal profit is better isn’t it?!
You don’t have to compromise with the profit margins when you clearly have the option to switch your broker. Just pick one with a lower transaction fee and you’ll be fine.
Member Since Jun 23, 2020
29 posts
Mar 02, 2021 at 12:45
@Mike Absolutely why not, even if I am able to save a penny more on one platform comparatively, I am a much happier trader
Member Since Oct 29, 2020
35 posts
Mar 02, 2021 at 12:46
robindude posted:What pairs are you trading?advancedsmifser posted:1% is fine, even 2% is the maximum that many can hope and to achieve without risking too much. I have been getting 1.5% to 2% risk management for the most of my trades and I am pretty happy with that.
Any tips would be helpful, I am as it is not risking more than 1%
And for the tip, pick one pair and try to stay trading with the same one. And consider using limit order.
Member Since Nov 10, 2020
23 posts
Mar 03, 2021 at 04:59
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
Member Since Nov 12, 2020
22 posts
Mar 03, 2021 at 10:42
PercymcDonnell54 posted:That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
Member Since Oct 08, 2020
25 posts
Mar 04, 2021 at 05:03
donelderly posted:Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.PercymcDonnell54 posted:That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
Member Since Nov 10, 2020
23 posts
Mar 04, 2021 at 08:22
Rosstaylorr posted:That seems manageable and honestly I see no harm in being careful while trading. Using stop loss, lower leverage and cost effective brokers can add up to a good risk and money management.donelderly posted:Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.PercymcDonnell54 posted:That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
