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My concern on lot commissions

advancedsmifser
Jan 14 2021 at 12:36
35 príspevkov
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.

richardmarcus
Jan 15 2021 at 04:15
104 príspevkov
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.

You should first gather all the knowledge and then place the trades.

advancedsmifser
Jan 15 2021 at 12:30
35 príspevkov
richardmarcus posted:
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.

You should first gather all the knowledge and then place the trades.

Wouldn’t simultaneous practice be a better idea?

richardmarcus
Jan 16 2021 at 04:47
104 príspevkov
advancedsmifser posted:
richardmarcus posted:
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.

You should first gather all the knowledge and then place the trades.

Wouldn’t simultaneous practice be a better idea?

yea practice on demo accounts will be better

yana hansen (78678676)
Jan 16 2021 at 12:00
137 príspevkov
Going live with not much knowledge of the market is a mistake. Please use demo account.

richardmarcus
Jan 18 2021 at 03:59
104 príspevkov
78678676 posted:
Going live with not much knowledge of the market is a mistake. Please use demo account.

yea i have suggested him the same thing

Gushenman (Gushenman)
Jan 18 2021 at 10:00
3 príspevkov
***RULE 1.
Stop loss 'must below 7%'
Don't flow the trade in a long time

advancedsmifser
Jan 18 2021 at 12:49
35 príspevkov
78678676 posted:
Going live with not much knowledge of the market is a mistake. Please use demo account.

How about micro accounts? For a more realistic approach

AliaDare
Jan 19 2021 at 01:42
788 príspevkov
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.

Sar John (Sarjohn)
Jan 19 2021 at 11:42
187 príspevkov
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.

advancedsmifser
Jan 19 2021 at 12:37
35 príspevkov
Gushenman posted:
***RULE 1.
Stop loss 'must below 7%'
Don't flow the trade in a long time

Hmm, I was thinking between 10 and 15, bad idea?

advancedsmifser
Jan 19 2021 at 12:38
35 príspevkov
AliaDare posted:
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

Gleywilleyy
Jan 19 2021 at 12:52
47 príspevkov
Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.

Jakemark
Jan 20 2021 at 10:41
37 príspevkov
You can contrast 2 or 3 brokers as per their commission rates and go with the one that is the lowest.

Mikehussey
Jan 21 2021 at 09:48
58 príspevkov
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.

advancedsmifser
Jan 21 2021 at 11:45
35 príspevkov
Is anyone here using a no-commission broker?

Gleywilleyy
Jan 21 2021 at 13:09
47 príspevkov
advancedsmifser posted:
Is anyone here using a no-commission broker?

I honestly prefer brokers with lower commissions and tighter spreads. As long as the commission cost is less, I don’t mind paying that in lieu of low spreads.

advancedsmifser
Jan 21 2021 at 13:18
35 príspevkov
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.

richardmarcus
Jan 22 2021 at 04:32
104 príspevkov
Gleywilleyy posted:
Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.

True that do u know any??

Bela_fx
Jan 22 2021 at 07:56
34 príspevkov
Gleywilleyy posted:
I honestly prefer brokers with lower commissions and tighter spreads. As long as the commission cost is less, I don’t mind paying that in lieu of low spreads.

My approach is also same. That's why went with fxview, $2 commissions RT and low spreads.

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