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High leverage = High risk?

Parker09
Feb 05 at 12:44
30 příspěvků
For beginners, I suggest using lower leverage because higher leverage has higher risk and losses, whereas if you choose a broker with lower leverage, the cost will be lower and risk involved is low as well.

stevewood
Feb 06 at 06:13
12 příspěvků
There is no fixed amount which is right for using leverage. Using leverage seriously depends on your ability to take risk and how much you can afford to lose. PNL calculators are fine way of assessing your risk per trade. You’ll find this calculator with most brokers - XM, FxPro.

unsightlydray
Feb 08 at 08:04
53 příspěvků
forextrader777 posted:
High leverage attracts new traders but few of them know the actual working of leverage. I would recommend that before pushing yourself into the trades that need margin, try to understand the concept clearly, otherwise it can wipe off your account balance.

Yes, I am taking my sweet time to be thorough with trading concepts.

blandpatsyy
Feb 08 at 12:35
42 příspěvků
Steve, even forextime offers it. So does fp markets. These are my ex brokers.

Johnathankim
Feb 09 at 08:27
29 příspěvků
stevewood posted:
There is no fixed amount which is right for using leverage. Using leverage seriously depends on your ability to take risk and how much you can afford to lose. PNL calculators are fine way of assessing your risk per trade. You’ll find this calculator with most brokers - XM, FxPro.

I’m a stickler when it comes to using pnl. Never have, never will trade without properly scrutinising the potential losses and profits in every trade, no matter worth a lot of money or small.

josejames
Feb 10 at 10:54
16 příspěvků
RelySmith posted:
josejames posted:
RelySmith posted:
blandpatsyy posted:
Garrywilson posted:
I find it too risky to use leverage. Can’t imagine owing money to the broker and defeat the whole purpose of being in the market.

If you use a broker that offers negative balance protection, there’s no way that you’ll be risking owing anything to the broker. Then there’s stop loss as well to the rescue. If I’m not wrong all brokers offer these features, and if yours don’t, simply transfer your funds to a better broker.

I doubt if Robinhood offers negative balance protection

It doesn’t need to, Robinhood simply doesn’t allow short selling. But sadly there’s no forex option there. So I had to make an account with Fxview. Zeroed in on this one cause of the wider currency options. And ya, they very clearly offer negative protection.

Fxview?? Never heard! Another offshore I bet

Well, fxview’s been around for awhile now. Dug into their company’s history and credentials a lot before opening ECN with them. They are giving up to 500x. Spreads I found attractive, on the lower side. And I don’t think there’s anything wrong with offshore brokers as long as they are regulated. A fixed and a rigid mindset can be very limiting to a trader.

blandpatsyy
Feb 11 at 08:30
42 příspěvků
RelySmith posted:
What is the best way of knowing if a trade is too risky?

How long have you been trading for? I always follow the trend. And follow the ATR method of stop loss.

Garrywilson
Feb 11 at 11:03
37 příspěvků
Isn’t trailing stop loss a better use of sl? Also of late I have been relying a lot on the economic calendar. Really helpful in knowing if a particular time is good to trade.

stevewood
Feb 12 at 06:22
12 příspěvků
Garrywilson posted:
Isn’t trailing stop loss a better use of sl? Also of late I have been relying a lot on the economic calendar. Really helpful in knowing if a particular time is good to trade.

A fan of fixed stops!

Gareylinn509
Feb 15 at 09:18
34 příspěvků
Yes, me too Steve. I am not a fan of constantly monitoring my trades so fixed stops work like wonder for me.

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