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.
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.
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