What are you guys talking about? Leverage allows you to make the margin bigger. If you follow proper position sizing, you would have the exact same amount of risk every single trade. You only need 2 things: capital amount you are willing to risk and total pips from entry to stoploss. Using those two, you can get the correct lot size. Whatever happens to the trade, you will lose the exact same amount of capital regardless of what leverage you have on the account. Leverage matters only when you have a lot of trades open as it will allow you to open more due to bigger margin.
inspirenez posted: First make a strong trading plan, of which leverage should not be a part. If you can’t make profits without leverage then you shouldn’t be trading at all.
I believe leverage is used so that the percentage of profits increases, it does not mean that one does not know how to trade.
I sort of agree with you, leverage is required, but just should be used very carefully, after acquiring some experience.
Yes. Leverage can be a very dangerous tool in a trader’s kit. Experience is necessary to know how to use it profitably and not turn it into a money-losing mechanism. I started trading with xm and icm first without any leverage. Only after I started making some profits, few dollars on first 1000k, I started using leverage. As of today I am using leverage with all of my brokers: ig, forex.com etc. However I still trade using only micro lots.
@Collingwood112 Even I started with a demo account of plus500 and then when I went live with fxview, I invested $100 and made my first trade. Eventually I raised my capital amount and it’s been all good.