My concern on lot commissions
Medlem sedan Jul 10, 2020
34 inlägg
Mar 04, 2021 at 11:10
PercymcDonnell54 posted:Thanks for that. I was advised by my trader friends to trade simply and without risking so much at first. Trying to learn with every step of the way.Rosstaylorr posted: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.donelderly posted: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, Fxview), 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.PercymcDonnell54 posted: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.
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.
Mar 05, 2021 at 13:05
Rosstaylorr posted:It is nice that you at least know how to go about the leverage and I’ve seen most newbies fail because they kept risking very high. As for me, when I started with it, I also went as high as 1:500 at times with some brokers, Fxcm, etc. and I ended up losing almost everything. Now I prefer keeping it low and playing safe. Using the same platforms but keeping the leverage ratio real low.donelderly posted: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.PercymcDonnell54 posted: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.
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 Jun 23, 2020
29 inlägg
Mar 08, 2021 at 11:07
Adamgylicrist posted:That is right and newbies kind of get lost about where and how to begin. Pretty helpful tip!
It doesn’t matter if you are trading a demo or going live, a lot size often helps traders in understanding how much to risk and how much they should trade. Better to determine the lost size for trading in the beginning.
Medlem sedan Jun 30, 2020
47 inlägg
Mar 08, 2021 at 11:53
PercymcDonnell54 posted:Yeah keeping the leverage pretty low can work well for an effective risk management.Rosstaylorr posted: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.donelderly posted: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.PercymcDonnell54 posted: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.
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 07, 2020
22 inlägg
Mar 09, 2021 at 05:30
Johnathankim posted:Thanks and even trading nano lots can be an option.Adamgylicrist posted:That is right and newbies kind of get lost about where and how to begin. Pretty helpful tip!
It doesn’t matter if you are trading a demo or going live, a lot size often helps traders in understanding how much to risk and how much they should trade. Better to determine the lost size for trading in the beginning.
Sar John (Sarjohn)
Medlem sedan Dec 28, 2020
187 inlägg
Mar 09, 2021 at 08:17
advancedsmifser posted:That is a good strategy, are you placing that many lot sizes in live trading also?Sarjohn posted: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.
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.
Medlem sedan Oct 29, 2020
35 inlägg
Mar 09, 2021 at 11:19
Sarjohn posted:Well no, but I am trying to keep the experience as real as possible.advancedsmifser posted:That is a good strategy, are you placing that many lot sizes in live trading also?Sarjohn posted: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.
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.
Medlem sedan Jun 30, 2020
47 inlägg
Mar 09, 2021 at 12:18
Shaunmaxi posted:You can trade currency pairs based on their volatility and how profitable you think they can be for you. With the right strategy and analysis, you can improve your trades. Like I did with USD/JPY and USD/CHF with IB. You can look at different pairs and their pip value will probably depend on the pair you are trading.
Thanks for the responses. I just want to clarify one other thing and can someone tell me what are the best currencies to trade, keeping in mind the low lots that I can trade?
Medlem sedan Oct 07, 2020
104 inlägg
Mar 10, 2021 at 05:00
Shaunmaxi posted:you can check out any youtube or instagram profiles there are alot of forums too
Can anyone recommend a site, video or anything that would help me get a clearer idea?
Sar John (Sarjohn)
Medlem sedan Dec 28, 2020
187 inlägg
Mar 10, 2021 at 08:20
advancedsmifser posted:That’s great, I will try out the same strategy on demo account with this lot’s size.Sarjohn posted:Well no, but I am trying to keep the experience as real as possible.advancedsmifser posted:That is a good strategy, are you placing that many lot sizes in live trading also?Sarjohn posted: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.
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.
Medlem sedan Nov 17, 2020
24 inlägg
Mar 13, 2021 at 12:33
I am sure that you would have given it a thought because this is no joke. You want to risk so much money in one go and that without having much experience with that. I personally prefer trading small lots with xm because they keep you from getting emotional whether you win a trade or not. You can easily handle the results and continue to trade with your strategy without being overly emotional.
Medlem sedan Nov 12, 2020
25 inlägg
Mar 15, 2021 at 13:20
When you place more than one lot, you get to scale out more easily as your trade progresses. But as you can never know the outcome of a trade, it can also backfire. I suggest talking to your mentor about this before going ahead with this.
Medlem sedan Nov 18, 2020
23 inlägg
Mar 16, 2021 at 09:43
Trading small lots in different positions gives you a good edge. If it goes in your favor, you can close some while letting the others run. This way, you can also focus on your other trades.
Medlem sedan Jan 04, 2021
10 inlägg
Apr 03, 2021 at 09:58
You should focus on working and learning more about the market first. This will give you some experience and an idea of how to manage things.
Medlem sedan Mar 17, 2021
536 inlägg
Jul 29, 2021 at 12:45
Aurisida posted:Yes. You are right.
When you learn to understand everything, then you will be able to understand all questions regarding commissions.
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