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My concern on lot commissions

Medlem sedan Nov 18, 2020   26 inlägg
Feb 24, 2021 at 04:51
Fabiandelph842 posted:
advancedsmifser posted:
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
There will always be both negative and positive reviews. It is up to you what you want to believe. You better give demo trading a chance and then make your decision rather than depending solely on what others believe.
Ya, different brokers suit different types of traders. You will have to do your own research and testing to find a suitable broker for your needs. You can check their features and see whether they match what you are looking for.
Medlem sedan Oct 29, 2020   35 inlägg
Feb 24, 2021 at 12:34
leeson12 posted:
advancedsmifser posted:
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
demo trading in? are you talking about just demo trading or with broker?
I don’t understand...demo trading IS done through a broker right? How else does one do it?

Medlem sedan Nov 17, 2020   19 inlägg
Feb 25, 2021 at 05:54
jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
Medlem sedan Oct 07, 2020   104 inlägg
Feb 25, 2021 at 06:38
Garyneville221 posted:
jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
I completely agree with you on this
Medlem sedan Dec 11, 2020   110 inlägg
Feb 25, 2021 at 07:24
Garyneville221 posted:
jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
So true. It can be very useful if you can also learn how to do money and risk management.
Medlem sedan Oct 29, 2020   35 inlägg
Feb 25, 2021 at 12:49
robindude posted:
Garyneville221 posted:
jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
So true. It can be very useful if you can also learn how to do money and risk management.
Any tips would be helpful, I am as it is not risking more than 1%
Medlem sedan Nov 10, 2020   23 inlägg
Feb 26, 2021 at 04:49
It’s good that you are aiming at making great profits in the forex market. But if you focus solely on making money, you won’t get what you want. It is your skills that get you profits in the long run.
Medlem sedan Oct 07, 2020   104 inlägg
Feb 26, 2021 at 05:19
PercymcDonnell54 posted:
It’s good that you are aiming at making great profits in the forex market. But if you focus solely on making money, you won’t get what you want. It is your skills that get you profits in the long run.
rightly said
Medlem sedan Jul 06, 2020   28 inlägg
Feb 27, 2021 at 12:06
Garyneville221 posted:
jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
Yes, it is smart to start small and keep the investments low in the beginning. Also a good idea to risk a small percent of your trades to stay in sync with risk management.
Medlem sedan Jul 23, 2020   869 inlägg
Feb 27, 2021 at 17:29
PercymcDonnell54 posted:
It’s good that you are aiming at making great profits in the forex market. But if you focus solely on making money, you won’t get what you want. It is your skills that get you profits in the long run.
In my opinion, traders should focus on learning rather than making money.
Medlem sedan Oct 01, 2020   49 inlägg
Mar 01, 2021 at 09:58
Some newbies only look at profits which is not at all a good thing to begin with. Focusing on developing new skills and learning new things about forex is the way to go. Just looking at profits and money can be dangerous for them.
Medlem sedan Jun 23, 2020   29 inlägg
Mar 01, 2021 at 11:56
You don’t have to compromise with the profit margins when you clearly have the option to switch your broker. Just pick one with a lower transaction fee and you’ll be fine.
Medlem sedan Dec 11, 2020   110 inlägg
Mar 01, 2021 at 12:02
advancedsmifser posted:
Any tips would be helpful, I am as it is not risking more than 1%
1% is fine, even 2% is the maximum that many can hope and to achieve without risking too much. I have been getting 1.5% to 2% risk management for the most of my trades and I am pretty happy with that.
And for the tip, pick one pair and try to stay trading with the same one. And consider using limit order.
Medlem sedan Oct 01, 2020   49 inlägg
Mar 02, 2021 at 09:54
Johnathankim posted:
You don’t have to compromise with the profit margins when you clearly have the option to switch your broker. Just pick one with a lower transaction fee and you’ll be fine.
I kind of agree with you on this one. I had the same issue but then a friend suggested I should move to another platform that was charging less. I also did the same a while back by shifting to Etoro and Fxview. The commissions have been low. And I only trade major currencies, mostly eurusd, so the spraed cost is also manageable. Makes a slight difference but even a marginal profit is better isn’t it?!
Medlem sedan Jun 23, 2020   29 inlägg
Mar 02, 2021 at 12:45
@Mike Absolutely why not, even if I am able to save a penny more on one platform comparatively, I am a much happier trader
Medlem sedan Oct 29, 2020   35 inlägg
Mar 02, 2021 at 12:46
robindude posted:
advancedsmifser posted:
Any tips would be helpful, I am as it is not risking more than 1%
1% is fine, even 2% is the maximum that many can hope and to achieve without risking too much. I have been getting 1.5% to 2% risk management for the most of my trades and I am pretty happy with that.
And for the tip, pick one pair and try to stay trading with the same one. And consider using limit order.
What pairs are you trading?
Medlem sedan Nov 10, 2020   23 inlägg
Mar 03, 2021 at 04:59
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
Medlem sedan Nov 12, 2020   22 inlägg
Mar 03, 2021 at 10:42
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.
Medlem sedan Oct 08, 2020   25 inlägg
Mar 04, 2021 at 05:03
donelderly posted:
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.
Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.
Medlem sedan Nov 10, 2020   23 inlägg
Mar 04, 2021 at 08:22
Rosstaylorr posted:
donelderly posted:
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.
That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.
Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.
That seems manageable and honestly I see no harm in being careful while trading. Using stop loss, lower leverage and cost effective brokers can add up to a good risk and money management.
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