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!
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.
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.
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 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.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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