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What trade size and leverage to use in forex?

Harshalgibbs
Mar 04 2021 at 09:29
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asidefellow posted:
That’s what I would suggest to our friend Kyle also here. Try out different plans, test them out and make for yourself a strong trading plan which should consist of a) entry and exit signs, indicators, reward to risk ratio, leverage, trade size, sl, tp.

Yes, it’s all about a little bit of hit and trial and a lot and some luck. I remember in 2018 when I switched from alpari, I stumbled upon bollinger bands and keltner for the first time and that basically changed the game for me. Could easily locate strong breakouts. The volatility signaled by these indicators worked close to precise for me.

Harshalgibbs
Mar 04 2021 at 09:31
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If I may continue on my tangent, I have been looking to explore more indicators and ichimoku kinko hyo in particular has got my attention. Does anyone here use it?

Halexpark899
Mar 05 2021 at 03:58
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@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.

Harshalgibbs
Mar 05 2021 at 09:34
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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.

Oh yeah, I already use autochartist. It’s sweet.

Halexpark899
Mar 06 2021 at 03:58
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Instaforex is really good. It has a wide range of currency pairs for investment. And order execution is real time.

Harshalgibbs
Mar 09 2021 at 09:33
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Halexpark899 posted:
Fxview is good but Instaforex is really good. It has a wide range of currency pairs for investment. And order execution is real time.

I guess every broker has some perks. Like fxview for example, has real good execution time. I think we’re diverging though lol. What about that autochartist?

Gracewilson1995
Mar 09 2021 at 10:29
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i use depending on the instrument and the time. i can sometime trade on 10 lots with 500X leverage or sometme 0.01 lots..

Christopher332
Mar 10 2021 at 04:38
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@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

Mikehussey
Mar 10 2021 at 07:06
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Chris, that’s quite some talk for something with a 2.5 rating on forexpeacearmy!

Maxwelljoe
Mar 10 2021 at 10:47
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Mikehussey posted:
Chris, that’s quite some talk for something with a 2.5 rating on forexpeacearmy!

See on your own dude, never go by rating, although I agree FPA is a good source for a lot of trading info, but still go with your own trial. I tested this tool out on a few of the broker sites, forextime, and then started more aggressive use of autochartist.

unsightlydray
Mar 15 2021 at 12:49
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how is it with fxtm, does it offer autochartist for free? @Max

Mikehussey
Mar 16 2021 at 04:36
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Maxwelljoe posted:
Mikehussey posted:
Chris, that’s quite some talk for something with a 2.5 rating on forexpeacearmy!

See on your own dude, never go by rating, although I agree FPA is a good source for a lot of trading info, but still go with your own trial. I tested this tool out on a few of the broker sites, forextime, and then started more aggressive use of autochartist.

I kind of rely on them. Could you tell me why I shouldn’t trust ratings in the first place?

Collingwood112
Mar 16 2021 at 11:02
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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.

fafduplesis
Mar 16 2021 at 13:17
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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.

I agree! I use them to analyse past performances. Backtesting and forward testing some strategies these days.

layerchazard
Mar 17 2021 at 05:42
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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?

Bennie Riley (bennieriley)
Mar 25 2021 at 10:07
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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.

Tyronemings654
Mar 26 2021 at 04:54
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Everything is perfect if you have no issues with it. So, it’s better to know your requirements and risk appetite before choosing a trade size or leverage to use.

CanoeMussy
Mar 26 2021 at 10:43
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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.

Ericdier752
Mar 27 2021 at 06:18
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I try to maintain low levels of leverage and none of my trades are complete without the use of trailing stops as it reduces the downside and protects capital. I am a conservative trader and I don’t use brokers other than xm and octafx and never use leverage more than 1:5. I know there is a lot more that I need to do but sooner or later, I’ll get there.

Daminichatter
Mar 30 2021 at 10:31
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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.

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