high leverage

hankway10 posted:
High leverage should go with small lots to effectively control your risks. A lot of new traders fantasize about double their funds with high leverage, but end up throwing their money into the ocean..

High leverage allow high lots
Low leverage allow low lots
Risk is controlled by other tools than leverage

togr posted:

hankway10 posted:
High leverage should go with small lots to effectively control your risks. A lot of new traders fantasize about double their funds with high leverage, but end up throwing their money into the ocean..

High leverage allow high lots
Low leverage allow low lots
Risk is controlled by other tools than leverage

Perfect!

Stop loss is and Lot size is the main way that I manage risk. Just because can you a high Lot size does not mean that you have to use one

My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500

YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500

It depends on the monitoring authority. Which broker you're using?

togr posted:

hankway10 posted:
High leverage should go with small lots to effectively control your risks. A lot of new traders fantasize about double their funds with high leverage, but end up throwing their money into the ocean..

High leverage allow high lots
Low leverage allow low lots
Risk is controlled by other tools than leverage

Yes.
What I'm saying is for those new traders who dream of using small funds with high leverage to flip their profits. I'm just say for beginners it's not a good idea

YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500

Before taking a decision to choose broker, it's necessary to choose your suitable leverage first. Only then would you find the right broker that suits your needs.

In average, brokers offers maximum leverage of 500:1.

YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500

If you are a trader in the United States, then absolutely.
That's the maximum leverage a retail forex trader has available.

YellowStoneFX posted:
My broker only allows 1:50 at most. Is that normal? I thought you could get 1:500

Could you please share with us, which broker you are using, so we can advise you additionally...

As far as picking a broker, just note and I find it funny that no one has mentioned the following... The broker takes more risk than the client because they offer the leverage. In the case of which a broker goes under, you can kiss you money good bye. Ask the people who lost money even though they werent in CHF pairs when the black swan account happened. No one has shown proof of getting their funds back and FXCM is a REGISTERED COMPANY IN THE US STOCK EXCHANGE NASDAQ. All in all, one needs to find a fool proof system before they even deposit in forex because if you dont, then you will be like tgor and with blown accounts by the dozen. Time will pass and you will have spent so much time and money only to get nothing out of it.

I used a UK registered broker (which went under) and I was protected by the government. I got all my money back

goyankees85 posted:
 As far as picking a broker, just note and I find it funny that no one has mentioned the following... The broker takes more risk than the client because they offer the leverage. In the case of which a broker goes under, you can kiss you money good bye. Ask the people who lost money even though they werent in CHF pairs when the black swan account happened. No one has shown proof of getting their funds back and FXCM is a REGISTERED COMPANY IN THE US STOCK EXCHANGE NASDAQ. All in all, one needs to find a fool proof system before they even deposit in forex because if you dont, then you will be like tgor and with blown accounts by the dozen. Time will pass and you will have spent so much time and money only to get nothing out of it.

Interesting that you would consider tgor a bad trader with 'blown accounts by the dozen', Especially since tgor is a WELL ESTABLISHED member of the community.

You blew your own acount with a 99.9% DD.



If you are going to participate, at least be somewhat knowledgeable about the subject matter you are discussing.

goyankees85 posted:
 All in all, one needs to find a fool proof system before they even deposit in forex because if you dont, then you will be like tgor and with blown accounts by the dozen. Time will pass and you will have spent so much time and money only to get nothing out of it.

I find it interesting that you decided to delete your BLOWN account so that people wouldn't see the proof.

Like I said. If you are going to participate, then you should at least be knowledgeable about the subject matter. Thank you.

Also... Here is the link to the archives of the discussion for your blown account. Enjoy.


https://www.myfxbook.com/community/trading-systems/iggymon/1639844,1

This isn't the first and won't be the last blown account. I doubt that leverage has anything to do with it. Just poor risk management