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What trade size and leverage to use in forex?

Chan (8christianpaul8)
Jan 17 2021 at 17:31
posts 112
Kazile posted:
Contrary to the common misconception, the established leverage does not affect the trading results of Forex traders in any way. It only affects the size of the margin
Exactly. I've been telling people that but they kept asking the best leverage.
Trading is a marathon, not a sprint.
Stonesong
Jan 18 2021 at 10:25
posts 128
The definition of leverage, investment depends on your strategy, experience, work and trading style.
Kylealker87
Jan 19 2021 at 11:56
posts 34
Stonesong posted:
The definition of leverage, investment depends on your strategy, experience, work and trading style.
I hear that one should only do (even in trading) as the heart tells, which would mean defining leverage, strategy as per your own way of making things work for you. But I find this ideology a bit unnerving as with a market constantly fluctuating, how does one make their own rules, or does it make sense to have no rules within a broad area of free market ground! Just saying!
Jamespaul
Jan 21 2021 at 08:27
posts 24
8christianpaul8 posted:
Jamespaul posted:
8christianpaul8 posted:
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.
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.
I know but I prefer something at least around 1k dollars like what I use on my 2 accounts.
That sounds about right, anyone with some experience in trading shouldn’t be putting in less than 1k for sure. Nothing much to gain otherwise.
mitchelmarsh008
Jan 21 2021 at 09:22
posts 21
You can begin with identifying your risk per trade and the amount you want to invest. It is always wise to focus on your risk management. You can look for the lot size you would like to trade and see how it works out for you. I’m trading with some reliable brokers because of the platform choice. There is MT4, MT5 and Acttrader that I can access with Avatrade, Fxview and others.
Elena Triston (ele020)
Jan 21 2021 at 09:53
posts 219
If you have to start your trading journey , %0X leverage and micro lots is the correct thing. Do no go with higher leverages.
The more your practice, the more you learn.
fafduplesis
Jan 21 2021 at 12:30
posts 25
cardigan posted:
fafduplesis posted:
Does it offer vps?
If you are referring to fxview, then yes they offer affordable prices for VPS. You can check out in here: https://fxview.com/vps
For Forex4you, I couldn’t find it on their website and FAQ. I hope someone can share it if they find it.
Thanks for the info on fxview, was inquiring on forex4you though.
Numeromatt
Jan 22 2021 at 10:35
posts 38
Gareylinn509 posted:
Numeromatt posted:
Leverage is a good option to use, don’t listen to those telling you that it should be avoided.
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.
I am also not saying that leverage should be used blindly, there has to be math to it.
irkedduff
Jan 22 2021 at 13:01
posts 26
Can somebody please recommend some brokers that offer small trade size? I was keen on going with IG but found out they don’t offer micro lots.
Kylealker87
Jan 23 2021 at 12:51
posts 34
ele020 posted:
If you have to start your trading journey , %0X leverage and micro lots is the correct thing. Do no go with higher leverages.
Without any leverage at all I won’t be able to gain anything, my trading capital’s not much.
Elena Triston (ele020)
Jan 25 2021 at 03:51
posts 219
Kylealker87 posted:
ele020 posted:
If you have to start your trading journey , %0X leverage and micro lots is the correct thing. Do no go with higher leverages.
Without any leverage at all I won’t be able to gain anything, my trading capital’s not much.
hahhaa that's funny, I just noticed, I meant 50X and not Zero. Thank you for letting me know my typing error. And 50X is enough to start with. I don't recommend more than 50 if you have just started trading. Try smaller trade size, its okay to grow slow with small trade sizes rather than blowing up your capital completely.
The more your practice, the more you learn.
inspirenez
Jan 25 2021 at 04:46
posts 59
irkedduff posted:
Can somebody please recommend some brokers that offer small trade size? I was keen on going with IG but found out they don’t offer micro lots.
Where did you check, I have traded micro lots on ig, but not across all markets do they give this small trade size, so that must be the reason. Anyhow here are some reputed brokers offering micro lots:
Oanda
Fxview
Pepperstone
Swissquote
Mikehussey
Jan 25 2021 at 08:22
posts 58
irkedduff posted:
Can somebody please recommend some brokers that offer small trade size? I was keen on going with IG but found out they don’t offer micro lots.
For small capital traders even Alpari and FXTM are good choices.
asidefellow
Jan 27 2021 at 10:27
posts 37
Practice thoroughly your risk management on a demo account and then only use leverage. And start small.
fafduplesis
Jan 27 2021 at 12:42
posts 25
irkedduff posted:
Can somebody please recommend some brokers that offer small trade size? I was keen on going with IG but found out they don’t offer micro lots.
Micro lots are the best. Just by observing price swings you will know how the markets usually function.
Kroolsc
Jan 28 2021 at 04:48
posts 19
I am a demo account user here, I have been trading for 4 months now, with a drawdown of around 20% on both my trading accounts (demo) with cityindex and fxview. I have installed all possible alerts and using forex steam EA, should I start live trading on perhaps micro lots with the same brokers?
Chan (8christianpaul8)
Jan 28 2021 at 04:59
posts 112
I don't see any reason why not. Yes, it's best to start a small account first to get your skin in the game. If you would still follow the same principles you learned in demo and still profitable for the next few months, then go ahead and add more funds.
Trading is a marathon, not a sprint.
asidefellow
Jan 28 2021 at 11:19
posts 37
Kroolsc posted:
I am a demo account user here, I have been trading for 4 months now, with a drawdown of around 20% on both my trading accounts (demo) with cityindex and fxview. I have installed all possible alerts and using forex steam EA, should I start live trading on perhaps micro lots with the same brokers?
If they are working well for you and you are comfortable using them then why not?
Numeromatt
Jan 28 2021 at 13:32
posts 38
Kroolsc posted:
I am a demo account user here, I have been trading for 4 months now, with a drawdown of around 20% on both my trading accounts (demo) with cityindex and fxview. I have installed all possible alerts and using forex steam EA, should I start live trading on perhaps micro lots with the same brokers?
No matter which broker you use you won’t get the same results as you were getting on your demo account, so it doesn’t matter.
inspirenez
Jan 29 2021 at 04:55
posts 59
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.
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