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Beginner's Tips
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kkkkk_1

Medlem sedan Jan 10, 2020  28 poster 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

Medlem sedan Jul 18, 2020  1 poster goncalo008 Sep 09 at 17:09 (editerad 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

Medlem sedan Jan 10, 2020  28 poster 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

Medlem sedan Jul 19, 2020  225 poster 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

Medlem sedan Aug 07, 2020  29 poster 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

Medlem sedan Jun 22, 2020  39 poster 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

Medlem sedan Jul 09, 2020  15 poster 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

Medlem sedan Apr 25, 2020  76 poster 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

Medlem sedan Jul 15, 2020  90 poster Shelby10 Oct 30 at 10:14
every new trader should control their emotions while trading.

EbonyJones

Medlem sedan Jul 20, 2020  161 poster EbonyJones Nov 10 at 20:51
Every new traders should gather proper education before starting their forex career.

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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.