Mar 09 2021 at 04:34
When you are using a tool like a risk management calculator or something similar with the desired output, it gets easier for you to determine the best lot size based on your current trading account assets. Whether you are on your demo account or trading live, you will get to understand the amount you would like to risk.
Mar 09 2021 at 09:27
Remember that a bigger lot size may bring great risks, which means that you can see big profits and big losses. If you are prepared for that already, go on and trade off!
Mar 09 2021 at 11:36
LeviSievwright5 posted:Absolutely, without planning on the money bit, how can one expect to earn some more?!
If your investment is good, lot selection will be based on that investment. If you do not follow money management, you will not be able to trade properly.
Mar 09 2021 at 11:51
You seem to have a big heart! I have not personally done it but have monitored a friend’s account who was using an EA that would routinely place market orders of 100 lots or more. Frankly speaking, it was fun and terrifying to watch at the same time.
As long as you know what you are doing, there is nothing to be worried about. The order gets filled quickly without much change in the price.
I am not sure how much you are risking per trade. In order to determine the right lot size, you will be required to determine your risk in percentage. Talking about my previous trades with turnkeyforex and fxtm, I follow the 1% rule. In case a trade closes out for a loss, no more than 1% of my account balance is at risk.
Mar 11 2021 at 10:57
I’m not a risk taker and always find trading comfortable when there’s a decent balance between the capital I invest and the risk I’m willing to take.
Mar 11 2021 at 11:25
That’s crazy . Please don’t do it.
Yeah that’s what we’re all here for @Fred, but I’m curious to know as to how you maintain this “balance”?
Mar 12 2021 at 10:54
leecopp posted:Really nothing complex or statistical. I just know how to use the stop-loss and target the levels.
Yeah that’s what we’re all here for @Fred, but I’m curious to know as to how you maintain this “balance”?
Mar 12 2021 at 11:21
78678676 posted:Okay :() I have not been told that outrightly :) why though
That’s crazy . Please don’t do it.
Mar 12 2021 at 13:19
ReaderTrimble33 posted:I believe you but you can try this strategy on your own without the help of an EA. The best lot size depends on your capital, experience, goals, and the risk tolerance capacity. Try this on a demo account of your broker. I started with turnkeyforex and XM since they allow the minimum size of micro lot to be 0.01 and can go up to 100 lots if you wish to experiment.
You seem to have a big heart! I have not personally done it but have monitored a friend’s account who was using an EA that would routinely place market orders of 100 lots or more. Frankly speaking, it was fun and terrifying to watch at the same time.
Does position size have anything to do with the number of lots and making the trade profitable?
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 15 2021 at 13:37
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 16 2021 at 04:40
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.
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?
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?
