What trade size and leverage to use in forex?
Membre depuis Oct 13, 2020
posts 34
Jan 08, 2021 at 09:42
For me it’s fxview and forex4you that works. Started with the cent account of forex4you and eventually invested the profits out of it on fxview. Wanted to try a different ecn environment and platform (mt5).
Jan 08, 2021 at 09:44
I think I have already explained this before that the leverage doesn't matter unless you trade a big size or a lot of trades that will affect the margin % on your account. When using proper position sizing, you only need to know how much are you willing to risk per trade and the total pips from the entry price to the stoploss price. Leverage doesn't matter at all. If let's say you wanted to open a trade that will be a 50-pip stoploss and you are willing to lose 500 dollars, then you can open a lot size of 10 dollars per pip or 1 lot size on a standard account. Regardless if you use a leverage of 1:1, 1:30, 1:50, 1:100 or 1:3000, the risked amount of 500 dollars on that trade will still remain the same. Please do not mislead newbie traders. Anyone who knows how to properly set the correct sizing on each trade, knows this.
Trading is a marathon, not a sprint.
Jan 11, 2021 at 10:14
8christianpaul8 posted:With XM you don’t actually need a big trading balance to start trading. You can even open an account with them now. I made mine with an initial deposit of just $500. You actually only need $5 with them.
XM is good. XM is my very first broker. What they say is true that no requotes. Though I blew a few accounts with them due to my own mistakes as a newbie. I switched to RoboForex because of the free VPS and good profit share bonus. When I get more capital to open a new account, I will open an account with XM again.
Jan 11, 2021 at 10:16
Jamespaul posted:I know but I prefer something at least around 1k dollars like what I use on my 2 accounts.8christianpaul8 posted:With XM you don’t actually need a big trading balance to start trading. You can even open an account with them now. I made mine with an initial deposit of just $500. You actually only need $5 with them.
XM is good. XM is my very first broker. What they say is true that no requotes. Though I blew a few accounts with them due to my own mistakes as a newbie. I switched to RoboForex because of the free VPS and good profit share bonus. When I get more capital to open a new account, I will open an account with XM again.
Trading is a marathon, not a sprint.
Membre depuis Nov 07, 2020
posts 34
Jan 11, 2021 at 11:50
ele020 posted:I agree, and if you ask me even 50x is a lot to use. Can’t afford to lose everything in a single stroke.Kylealker87 posted:Low leverages always, high leverage clearly means more gamble. If you can afford to lose more, then for sure go for high leverage, but if you are a retail trader, 50X is more than enough.
Nano/micro/mini lot with less risks. Looking for suggestions!
Membre depuis Nov 11, 2020
posts 34
Jan 12, 2021 at 13:21
8christianpaul8 posted:What you are saying makes complete sense, a different perspective of looking at leverage for sure. The % of profit/loss on a winning/losing trade would be the same.
I think I have already explained this before that the leverage doesn't matter unless you trade a big size or a lot of trades that will affect the margin % on your account. When using proper position sizing, you only need to know how much are you willing to risk per trade and the total pips from the entry price to the stoploss price. Leverage doesn't matter at all. If let's say you wanted to open a trade that will be a 50-pip stoploss and you are willing to lose 500 dollars, then you can open a lot size of 10 dollars per pip or 1 lot size on a standard account. Regardless if you use a leverage of 1:1, 1:30, 1:50, 1:100 or 1:3000, the risked amount of 500 dollars on that trade will still remain the same. Please do not mislead newbie traders. Anyone who knows how to properly set the correct sizing on each trade, knows this.
Jan 12, 2021 at 13:57
(édité Jan 12, 2021 at 13:58)
Gareylinn509 posted:Just risk 1% or less of your account capital in a single trade. If you're so unlucky, 100 loses in a row can wipe out your account. Of course, you still need a strategy that has a positive expectation so you can come out green after all of your trades. Best of luck in trading!ele020 posted:I agree, and if you ask me even 50x is a lot to use. Can’t afford to lose everything in a single stroke.Kylealker87 posted:Low leverages always, high leverage clearly means more gamble. If you can afford to lose more, then for sure go for high leverage, but if you are a retail trader, 50X is more than enough.
Nano/micro/mini lot with less risks. Looking for suggestions!
Trading is a marathon, not a sprint.
Jan 12, 2021 at 13:58
Kylealker87 posted:Thank you! That's a simple way of seeing it.8christianpaul8 posted:What you are saying makes complete sense, a different perspective of looking at leverage for sure. The % of profit/loss on a winning/losing trade would be the same.
I think I have already explained this before that the leverage doesn't matter unless you trade a big size or a lot of trades that will affect the margin % on your account. When using proper position sizing, you only need to know how much are you willing to risk per trade and the total pips from the entry price to the stoploss price. Leverage doesn't matter at all. If let's say you wanted to open a trade that will be a 50-pip stoploss and you are willing to lose 500 dollars, then you can open a lot size of 10 dollars per pip or 1 lot size on a standard account. Regardless if you use a leverage of 1:1, 1:30, 1:50, 1:100 or 1:3000, the risked amount of 500 dollars on that trade will still remain the same. Please do not mislead newbie traders. Anyone who knows how to properly set the correct sizing on each trade, knows this.
Trading is a marathon, not a sprint.
Membre depuis Oct 05, 2020
posts 21
Jan 13, 2021 at 11:57
Mitchelsantner posted:And also forex4you gives fixed spreads, that was my reason for switching to forex.com. A good broker otherwise.
For me it’s fxview and forex4you that works. Started with the cent account of forex4you and eventually invested the profits out of it on fxview. Wanted to try a different ecn environment and platform (mt5).
Membre depuis Oct 13, 2020
posts 34
Jan 13, 2021 at 11:57
marktaylor posted:True! With so many cent account holders on this platform, the transaction volume with them is something. Guess it's their credibility over last 15 odd years.Mitchelsantner posted:And also forex4you gives fixed spreads, that was my reason for switching to forex.com. A good broker otherwise.
For me it’s fxview and forex4you that works. Started with the cent account of forex4you and eventually invested the profits out of it on fxview. Wanted to try a different ecn environment and platform (mt5).
Membre depuis Nov 12, 2020
posts 25
Jan 13, 2021 at 12:51
Mitchelsantner posted:Does it offer vps?marktaylor posted:True! With so many cent account holders on this platform, the transaction volume with them is something. Guess it's their credibility over last 15 odd years.Mitchelsantner posted:And also forex4you gives fixed spreads, that was my reason for switching to forex.com. A good broker otherwise.
For me it’s fxview and forex4you that works. Started with the cent account of forex4you and eventually invested the profits out of it on fxview. Wanted to try a different ecn environment and platform (mt5).
Jan 14, 2021 at 07:26
fafduplesis posted:If you are referring to fxview, then yes they offer affordable prices for VPS. You can check out in here: https://fxview.com/vps
Does it offer vps?
For Forex4you, I couldn’t find it on their website and FAQ. I hope someone can share it if they find it.
Membre depuis Oct 13, 2020
posts 34
Jan 14, 2021 at 10:09
fafduplesis posted:No but my other broker fxview does. Not been paying anything extra for it ever since my trading balance has been more than 5k.Mitchelsantner posted:Does it offer vps?marktaylor posted:True! With so many cent account holders on this platform, the transaction volume with them is something. Guess it's their credibility over last 15 odd years.Mitchelsantner posted:And also forex4you gives fixed spreads, that was my reason for switching to forex.com. A good broker otherwise.
For me it’s fxview and forex4you that works. Started with the cent account of forex4you and eventually invested the profits out of it on fxview. Wanted to try a different ecn environment and platform (mt5).
Membre depuis Jun 29, 2020
posts 38
Jan 14, 2021 at 12:25
Leverage is a good option to use, don’t listen to those telling you that it should be avoided.
Membre depuis Nov 07, 2020
posts 34
Jan 14, 2021 at 12:44
Numeromatt posted:I don’t think that’s a very sound advice to be given to someone, leverage is a double edged sword, and more often than not, it proves to be on the wrong side of traders. Newbies are just greedy to make a quick buck and end up losing all their money, thanks to leverage.
Leverage is a good option to use, don’t listen to those telling you that it should be avoided.
Jan 15, 2021 at 05:43
There’s no harm in using leverage as long as one is able to predict the trend and use margin only on absolutely safe trades. I make use of pivot points and bollinger bands, and sometimes keltner to predict the price move and when it seems sure that I will have a winning trade I make use of leverage offered by my brokers avatrade and fxview to open my position. And on majority of these occasions I have been right. So I will never be against the use of leverage.
Membre depuis Nov 11, 2020
posts 34
Jan 15, 2021 at 12:49
cardigan posted:How important would you consider vps to be for a trader?fafduplesis posted:If you are referring to fxview, then yes they offer affordable prices for VPS. You can check out in here: https://fxview.com/vps
Does it offer vps?
For Forex4you, I couldn’t find it on their website and FAQ. I hope someone can share it if they find it.
Membre depuis Nov 11, 2020
posts 34
Jan 15, 2021 at 12:51
almfx posted:I am working on that, but I feel knowing others opinions, thoughts on various aspects only helps, never harms.Kylealker87 posted:
Nano/micro/mini lot with less risks. Looking for suggestions!
This is an incomprehensible and clichéd question, Try to learn risk management.
