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Beginner's Tips
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kkkkk_1

Členom od Jan 10, 2020  28 príspevkov kkkkk_1 Sep 09 at 13:28
hello sir.

i have a question. if f.ex. i have $1000. what a lot size may i use? and what leverage is better used?

goncalo008

Členom od Jul 18, 2020  1 príspevkov goncalo008 Sep 09 at 17:09 (upravené Sep 09 at 17:11 )
Hi. For risk management i use this indicator for mt4 or mt5. (Link at the botton)

There you can calculate your lote size by percentage of risk on that trade or even for the value you want risk.

If you are a beginner don't use high leverage. For me the best is 100. Just because if you use high leverage you gonna open more trades then you should. My risk management strategy is. I only expose the maximum 2% of my account balance. And i open trades with 0.5% of my account balance. I just open more trades if the previous ones are in breakeven. This kind of approach you can control better your drawdown.

I also set daily goals. 4% gains and 2% loss. To avoid overtrading. (That was my biggest issue on trading).



https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/

kkkkk_1

Členom od Jan 10, 2020  28 príspevkov kkkkk_1 Sep 11 at 09:23
goncalo008 posted:
Hi. For risk management i use this indicator for mt4 or mt5. (Link at the botton)

There you can calculate your lote size by percentage of risk on that trade or even for the value you want risk.

If you are a beginner don't use high leverage. For me the best is 100. Just because if you use high leverage you gonna open more trades then you should. My risk management strategy is. I only expose the maximum 2% of my account balance. And i open trades with 0.5% of my account balance. I just open more trades if the previous ones are in breakeven. This kind of approach you can control better your drawdown.

I also set daily goals. 4% gains and 2% loss. To avoid overtrading. (That was my biggest issue on trading).



https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/


thank you sir. i will definitely use it.

GeorgeBischof

Členom od Jul 19, 2020  225 príspevkov GeorgeBischof Sep 11 at 17:52
If you are new in this market, you need to choose a good and reliable broker. You can take help from those websites that provide broker reviews on their websites.

Malajind

Členom od Aug 07, 2020  29 príspevkov Malajind Sep 12 at 05:24
Satisfied with the work with Amarkets. They regularly add bonuses, constantly strive for innovations, improve trading conditions. I definitely recommend it.

Miguelfabian

Členom od Jun 22, 2020  39 príspevkov Miguelfabian Oct 16 at 12:41
I would say a micro lot, and if you are new, then don't use more than 5:1 as leverage.

williamhayes

Členom od Jul 09, 2020  15 príspevkov williamhayes Oct 26 at 06:12
If you are a beginner, I will suggest you get a good broker. Don’t use more than 5:1 leverage and keep a track on your risk management strategies. Good luck.

Kazile

Členom od Apr 25, 2020  76 príspevkov Kazile Oct 26 at 10:11
Of course, the choice of a broker is very important, but the most important thing is that you do not need to give in to your emotions and hurry to earn money as quickly as possible.

Shelby10

Členom od Jul 15, 2020  95 príspevkov Shelby10 Oct 30 at 10:14
every new trader should control their emotions while trading.

EbonyJones

Členom od Jul 20, 2020  163 príspevkov EbonyJones Nov 10 at 20:51
Every new traders should gather proper education before starting their forex career.

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