advancedsmifser posted: I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions. I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.
Yes, you should gather knowledge first. It is never possible to trade without acquiring research and knowledge.
I am actually doing that, in fact I’m on the verge of thinking if I’m overdoing the learning bit :) should just take the plunge now I suppose
No one wants to spend so much on commissions and because of that a lot of new traders end up using very low cost brokers and get scammed. So don’t just look for the commission rate and try to analyse other aspects as well. If you find a broker that is too good to be true, don’t trade with it. There will be some hidden surprises there.
Sarjohn posted: Placing that many lot sizes when you are just gathering knowledge is not a good idea, first develop a good strategy and practice on demo.
I have been practicing use of RSI, MACD and bollinger bands while keeping my trade open for several hours and in some cases days. I have been thinking I have reached a point of stagnation from where I can only learn if I put in some real bucks.
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.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.