To use chat, please login.
Back to contacts

My concern on lot commissions

Shaunmaxi
Mar 06 at 10:51
28 posts
Can anyone recommend a site, video or anything that would help me get a clearer idea?

desertdye
Mar 06 at 13:08
20 posts
Hey Shaun, you can try reading ‘Trading in the Zone’ by Mark Douglas.

Johnathankim
Mar 08 at 11:07
29 posts
Adamgylicrist posted:
It doesn’t matter if you are trading a demo or going live, a lot size often helps traders in understanding how much to risk and how much they should trade. Better to determine the lost size for trading in the beginning.

That is right and newbies kind of get lost about where and how to begin. Pretty helpful tip!

Gleywilleyy
Mar 08 at 11:53
47 posts
PercymcDonnell54 posted:
Rosstaylorr posted:
donelderly posted:
PercymcDonnell54 posted:
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.

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.

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.

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.

Yeah keeping the leverage pretty low can work well for an effective risk management.

Rogerwood465
Mar 09 at 05:30
22 posts
Johnathankim posted:
Adamgylicrist posted:
It doesn’t matter if you are trading a demo or going live, a lot size often helps traders in understanding how much to risk and how much they should trade. Better to determine the lost size for trading in the beginning.

That is right and newbies kind of get lost about where and how to begin. Pretty helpful tip!

Thanks and even trading nano lots can be an option.

Sarjohn (Sarjohn)
Mar 09 at 08:17
160 posts
advancedsmifser posted:
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.

That is a good strategy, are you placing that many lot sizes in live trading also?

Shaunmaxi
Mar 09 at 10:15
28 posts
Thanks for the responses. I just want to clarify one other thing and can someone tell me what are the best currencies to trade, keeping in mind the low lots that I can trade?

advancedsmifser
Mar 09 at 11:19
35 posts
Sarjohn posted:
advancedsmifser posted:
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.

That is a good strategy, are you placing that many lot sizes in live trading also?

Well no, but I am trying to keep the experience as real as possible.


Gleywilleyy
Mar 09 at 12:18
47 posts
Shaunmaxi posted:
Thanks for the responses. I just want to clarify one other thing and can someone tell me what are the best currencies to trade, keeping in mind the low lots that I can trade?

You can trade currency pairs based on their volatility and how profitable you think they can be for you. With the right strategy and analysis, you can improve your trades. Like I did with USD/JPY and USD/CHF with IB. You can look at different pairs and their pip value will probably depend on the pair you are trading.

richardmarcus
Mar 10 at 05:00
104 posts
Shaunmaxi posted:
Can anyone recommend a site, video or anything that would help me get a clearer idea?

you can check out any youtube or instagram profiles there are alot of forums too

Please login to comment .