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My concern on lot commissions

Sar John (Sarjohn)
Mar 10 at 08:20
187 โพสต์
advancedsmifser posted:
Sarjohn posted:
advancedsmifser posted:
Sarjohn posted:
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.

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.

That is a good strategy, are you placing that many lot sizes in live trading also?

Well no, but I am trying to keep the experience as real as possible.


That’s great, I will try out the same strategy on demo account with this lot’s size.

Chrismorris657
Mar 11 at 08:18
17 โพสต์
As long as you have a good trading strategy and have tested it on a demo account, you can take the step ahead. But make sure that you use stop loss and take profit properly before you run out of time and money.

jaspertan
Mar 12 at 09:55
15 โพสต์
No one can decide that on your behalf. If you think that you are ready to take such a big step, go for it. But remember that it may or may not come with profits, it will surely come with a life lesson that will change the way you trade forever.

Raywilkins665
Mar 13 at 12:33
24 โพสต์
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.

fafduplesis
Mar 15 at 13:20
25 โพสต์
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.

Alisson332
Mar 16 at 09:43
23 โพสต์
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.

Johnathankim
Mar 16 at 11:41
29 โพสต์
Alisson332 posted:
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.

Wait what? Points like these make me laugh. Do you really think you’ll be saving money by purchasing a currency pair for a lesser amount? This whole idea in general is completely nonsensical.

Josuvaphilip
Mar 16 at 13:13
27 โพสต์
Johnathankim posted:
Alisson332 posted:
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.

Wait what? Points like these make me laugh. Do you really think you’ll be saving money by purchasing a currency pair for a lesser amount? This whole idea in general is completely nonsensical.

Laugh as much as you want buddy but I hope you know that the increase in algorithmic trading means the trade is rarely done in full block. Why would anyone get exposed to risk when he can easily move from 500,000 to 510,000 rather than 500,000, to 600,000?

Shaunmaxi
Mar 17 at 11:43
28 โพสต์
Entries, exits, and even risk management can be practiced with virtual money. What matters to the traders like me is to know how to react to big moves in the market with real money. Any thoughts on that?

rachaelbaker
Apr 03 at 09:58
10 โพสต์
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.

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