Mar 15 2021 at 10:39
If you are a new trader then You are taking a lot of risk, first try a demo if you feel that you won’t lose then go for live trading.
Mar 15 2021 at 12:35
I think a micro account can really save you from losses. I usually test my strategies through them. The capital requirement is low with them and right now I’m dealing with two $250 and $300 mini accounts.
Mar 16 2021 at 10:07
williamhayes posted:I find micro accounts pretty interesting too. They sure set up a real trading environment but with a lot less money. It’s kind of fun to trade micro. I don’t go very high with the leverage so that doesn’t increase my risk so much. As for brokers, I have just opened some micro accounts with Instaforex and Turnkeyforex. Just trying my luck with them and see if these micro accounts can help me with profitable trading as well. Much better than demos I think.mitchelstrack posted:Yeah with micro lots it is also easier to go with risk management. Can’t say it is that simple with a standard lot. As for me, I too prefer micro accounts and trust me they can get a bit tricky at times. But the risk is definitely lower so it works out. I have micro accounts with Fxtm and Fp markets at the moment.
I think a micro account can really save you from losses. I usually test my strategies through them. The capital requirement is low with them and right now I’m dealing with two $250 and $300 mini accounts.
Mar 17 2021 at 04:55
leecopp posted:The position size is usually determined by the number of lots. It also depends on the size or type of lot that you buy or sell in a trade.
Does position size have anything to do with the number of lots and making the trade profitable?
Mar 17 2021 at 07:30
williamhayes posted:So the type of lot can be micro, mini or standard right?leecopp posted:The position size is usually determined by the number of lots. It also depends on the size or type of lot that you buy or sell in a trade.
Does position size have anything to do with the number of lots and making the trade profitable?
Mar 22 2021 at 08:10
tinklesmoker posted:If you are doing good on demo then you can certainly proceed to live trading but for being on a safer side I would say place trade with micro and mini lot size first.Sarjohn posted:I have been doing pretty fine on demo.
If you are a new trader then You are taking a lot of risk, first try a demo if you feel that you won’t lose then go for live trading.
Mar 22 2021 at 10:59
Using a big lot size on a small account is just gambling. It may work but it may also wipe out your entire account. May as well go down the casino
Mar 23 2021 at 09:46
While trading, focusing on risk management is quite essential otherwise you can make your account zero immediately. Somewhere, trading larger lots shows the greed of a trader. It might look attractive but bites in the end. Better be careful about the decisions you make.
Mar 23 2021 at 12:59
I trade small lots in different positions with oanda for a good edge in the market. You have the option of closing some and letting others run whenever the need be.
Mar 25 2021 at 09:45
As you have asked it here, you will get answers one way or the other. But it’s how it worked for others. I suggest first test different trade entry methods with a backtesting program and forward test your system in live market conditions. For both of these, use your demo account and not the real money account.
Mar 26 2021 at 10:37
Smaller positions are obviously a better option as you can scale out of them quite easily.
Mar 30 2021 at 11:06
keatonrichard posted:True that! To add to it, I would also like to mention that irrespective of what position size you trade in, make sure that you have a safe stop loss associated with it.
The choice of the right lot size depends on your success rate. Don’t skip things. If you have a success rate of 90% or more, bigger lots are an option. But if you are yet figuring out what works and what doesn’t, don’t waste your money on bigger lots. Go for smaller ones.
Mar 31 2021 at 05:37
I think fewer trades are better as every time you trade, your broker takes away a certain amount in either commission or spread or both. Also, consider your risk to reward ratio. You don’t have to trade more frequently if you trade small lots.
Mar 31 2021 at 11:18
Get the basics right first. Get the proper training and then, commit any hard earned money in forex.
Apr 09 2021 at 07:57
tinklesmoker posted:If you are confident that you will gain a good amount of profits, then place a big lot size and try, but make sure that you invest that much capital which you are ready to lose as forex is a very unpredictable market.Sarjohn posted:Ya, but I want “real profits”.tinklesmoker posted:If you are doing good on demo then you can certainly proceed to live trading but for being on a safer side I would say place trade with micro and mini lot size first.Sarjohn posted:I have been doing pretty fine on demo.
If you are a new trader then You are taking a lot of risk, first try a demo if you feel that you won’t lose then go for live trading.
Apr 10 2021 at 11:33
ceceliagreer posted:Even trading with 100 lots with high capital is risky. Set your lot size according to your trading plan and experience.
It depends on your total capital and how much you are willing to trade and invest. If you have a higher capital, you can surely go with 100 lots.
Apr 21 2021 at 11:03
Yes, that is the right way to start and you can easily trade as per your capital. It totally depends on you.
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