Trading has risks and you ought to take some in order to earn. I have either demo traded or traded in micro lots. If you are not willing to put a lot of capital in the initial start of the trading, go with micro lots.
You are doing it right. Starting off with 100 lots is a better way in order to take low risks. In micro accounts, trading volume is low and some brokers give you no or minimum deposits and don’t even charge for deposits. I know the profits might be low but it’s good to keep it slow, rather than running fast and losing.
Ericdier752 posted: Demo trading is good George. But one can also choose nano lots for trading in forex.
Even I feel that! Demo trading can help you determine the best lot size you should use. You can also use the position size calculators offered by several brokers including turnkeyforex and etoro to determine what the best lot size would be as per your investments.
Though I keep my position size 50 lots that get filled instantly without any noticeable reaction in the price, I occasionally execute orders in 100 lots with the aim of liquidating positions and it works.
The thing that matters is making yourself familiar with different order types when trading any significant position size. In some cases, you may also get to attach a slippage control to the market order.
The choice of the lot size depends on your investments. As a day trader, it may take some months and as a swing trader, you will take around two years while taking care of risk management to trade 100 lots.
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