What trade size and leverage to use in forex?

amybuke posted:

starmyth posted:
@Shaun I also wish to have that experience very soon. I have just started with demo trading and it’s a long way to go yet.

Don’t waste your time in demo trading. You are earning nothing.

You, surely, are earning something through demo trading. You are earning knowledge to trade in real markets so that you can know about broker’s trading conditions and understand how one can analyse the market. I have been in the trading world for a long time but still I demo trade sometimes. You can try different brokers for the same like Fxview, Etoro, etc. Their demo and live prices are similar.

Exactly Gary, I don’t understand why people are so much against demo trading. Like what’s better than losing nothing and still trading.

Garyneville221 posted:

amybuke posted:

starmyth posted:
@Shaun I also wish to have that experience very soon. I have just started with demo trading and it’s a long way to go yet.

Don’t waste your time in demo trading. You are earning nothing.

You, surely, are earning something through demo trading. You are earning knowledge to trade in real markets so that you can know about broker’s trading conditions and understand how one can analyse the market. I have been in the trading world for a long time but still I demo trade sometimes. You can try different brokers for the same like Fxview, Etoro, etc. Their demo and live prices are similar.

I am also demo trading through a broker but it is giving me 0 spreads all the time, I think that’s unrealistic. After reading your comment I think I should also try Fxview or etoro once.

Georgegiffen43 posted:
Exactly Gary, I don’t understand why people are so much against demo trading. Like what’s better than losing nothing and still trading.

hahahaha, true that..... Why wouldn't someone want to practice without loosing a penny?

Instaforex is really good. It has a wide range of currency pairs for investment. And order execution is real time.

i use depending on the instrument and the time. i can sometime trade on 10 lots with 500X leverage or sometme 0.01 lots..

@Harshal From the horse’s mouth - it works swell for alerts and zoning in the chart patterns. I have been using it on MT5 from quite a bit now, but now that I am getting experimental and planning on trying the demos for other trading platforms, I will have to change my first preference of indicator

how is it with fxtm, does it offer autochartist for free? @Max

Collingwood112 posted:

Halexpark899 posted:
@harshalgibbs I do, on xm. If you like ichimoku, you would probably also like autochartist. You’d find autochartist for free on Instaforex and IC Markets.

Yeah it is available with some brokers for free. The chart pattern recognition and alert system is useful. Gives me some clarity with support, resistance levels and price forecasts.

I keep struggling to figure out the technical analysis part and I’ve been trying to get better at it. Was recently looking at some fibonacci retracement on MT4. Anyway, are you getting it for free with your brokers?

The only rule that I follow when trading forex is not to risk more than 1-2% of my account size per trade. As far as using leverage is concerned, it depends on how much you are comfortable with.

Trading is not just about tools and measurements. It's a lot about understanding the crowd mentality to work with your account in a way that you can minimise your losses. So, while determining the right position size, you better consider your risk tolerance and the size of the account.

Choosing trade size and leverage to use in forex relies upon the capital in your account and trading experience. It relies upon your position measuring as well. A demo account can help you if you aren't sure about what you are doing. Popular FX trading sites offer demo accounts that can help decide the right path through practice with virtual money.

I think you should first look at how much capital you have in your account and how much are you willing to trade.

There is no particular trade size and leverage that everyone can use. It totally depends on your capital and on your willingness to risk.

It depends on your capital size, risk tolerance ability and your skills to make money. But usually it's been said that don't risk more than 2% in a trade.

Yes, this question is somehow meaningless. It depend on the type of product and the time of span you investing

My trade size depends on the risk I am willing to take. On the other hand, I like to keep my leverage low because of the risks associated with it.

Leverage can do wonders to your trading if used mindfully. Although fxview offers leverage upto 500x but still I prefer using upto 200x. Better use it carefully, you'll be risking a lot the higher you go. also, best if the broker has negative balance protection.

I honestly don' think anything north of 1:500 is every needed. If used correctly and with caution it can be very useful but most use it to practice horrific risk management and get slapped for doing so.