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What trade size and leverage to use in forex?

Kylealker87
Jan 29 at 08:28
34 příspěvků
inspirenez posted:
First make a strong trading plan, of which leverage should not be a part. If you can’t make profits without leverage then you shouldn’t be trading at all.

I believe leverage is used so that the percentage of profits increases, it does not mean that one does not know how to trade.

irkedduff
Jan 29 at 11:01
26 příspěvků
Kylealker87 posted:
inspirenez posted:
First make a strong trading plan, of which leverage should not be a part. If you can’t make profits without leverage then you shouldn’t be trading at all.

I believe leverage is used so that the percentage of profits increases, it does not mean that one does not know how to trade.

I sort of agree with you, leverage is required, but just should be used very carefully, after acquiring some experience.

Christian Paul (8christianpaul8)
Jan 29 at 12:01
111 příspěvků
What are you guys talking about? Leverage allows you to make the margin bigger. If you follow proper position sizing, you would have the exact same amount of risk every single trade. You only need 2 things: capital amount you are willing to risk and total pips from entry to stoploss. Using those two, you can get the correct lot size. Whatever happens to the trade, you will lose the exact same amount of capital regardless of what leverage you have on the account. Leverage matters only when you have a lot of trades open as it will allow you to open more due to bigger margin.

Trading is a marathon, not a sprint.
Christian Paul (8christianpaul8)
Jan 29 at 12:03
111 příspěvků
If you follow correct position sizing and risking 1 to 2% of your capital every single trade, leverage is not needed on this equation.

Trading is a marathon, not a sprint.
christielowe
Feb 01 at 05:48
35 příspěvků
irkedduff posted:
Kylealker87 posted:
inspirenez posted:
First make a strong trading plan, of which leverage should not be a part. If you can’t make profits without leverage then you shouldn’t be trading at all.

I believe leverage is used so that the percentage of profits increases, it does not mean that one does not know how to trade.

I sort of agree with you, leverage is required, but just should be used very carefully, after acquiring some experience.

Yes. Leverage can be a very dangerous tool in a trader’s kit. Experience is necessary to know how to use it profitably and not turn it into a money-losing mechanism. I started trading with xm and icm first without any leverage. Only after I started making some profits, few dollars on first 1000k, I started using leverage. As of today I am using leverage with all of my brokers: ig, forex.com etc. However I still trade using only micro lots.

Mikehussey
Feb 01 at 08:22
58 příspěvků
Practice enough on a demo account first.

Numeromatt
Feb 02 at 09:53
38 příspěvků
Mikehussey posted:
Practice enough on a demo account first.

Yes, there’s no other way of finding out how you should be trading. A demo account will tell you if your strategy is right, or if you need to make any changes.

Collingwood112
Feb 02 at 13:25
22 příspěvků
Start with a micro account. It’s the next logical step after demo trading.

tracepharikson55
Feb 03 at 06:32
21 příspěvků
@Collingwood112 Even I started with a demo account of plus500 and then when I went live with fxview, I invested $100 and made my first trade. Eventually I raised my capital amount and it’s been all good.

asidefellow
Feb 03 at 10:14
37 příspěvků
You can trade whichever lot you want, just remember to keep leverage at bay. That way you will keep yourself safe in the long run.

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