mikehussy332 posted: You should stick with 1:100 or go as high as 1:200 in the beginning. This is the safest way of using leverage for trading.
I wouldn't say 1:100 is safest. That is very dangerous, even for the well experienced traders as well. 1:30 from that first reply is perfect, even for the experienced traders. Small accounts can have 10x leverage as maximum, to me.
'Leverage is based on the trader's choice. The higher the leverage, the higher the profit, but the risk is also higher.
Professional traders prefer using higher leverage because they have the capital to balance the loss. Still, it is best for beginners to use lower leverage until they gain enough experience in trading.'
I think I have already explained this before that the leverage doesn't matter unless you trade a big size or a lot of trades that will affect the margin % on your account. When using proper position sizing, you only need to know how much are you willing to risk per trade and the total pips from the entry price to the stoploss price. Leverage doesn't matter at all. If let's say you wanted to open a trade that will be a 50-pip stoploss and you are willing to lose 500 dollars, then you can open a lot size of 10 dollars per pip or 1 lot size on a standard account. Regardless if you use a leverage of 1:1, 1:30, 1:50, 1:100 or 1:3000, the risked amount of 500 dollars on that trade will still remain the same. Please do not mislead newbie traders. Anyone who knows how to properly set the correct sizing on each trade, knows this.