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What trade size and leverage to use in forex?

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

Mikehussey
Mar 16 at 04:36
58 postów
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 at 11:02
22 postów
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 at 13:17
25 postów
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 at 05:42
15 postów
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 at 10:07
36 postów
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 at 04:54
15 postów
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 at 10:43
37 postów
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 at 06:18
59 postów
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 at 10:31
5 postów
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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