My concern on lot commissions

I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.

advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.

You should first gather all the knowledge and then place the trades.

richardmarcus posted:

advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.

You should first gather all the knowledge and then place the trades.

Wouldn’t simultaneous practice be a better idea?

advancedsmifser posted:

richardmarcus posted:

advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.

You should first gather all the knowledge and then place the trades.

Wouldn’t simultaneous practice be a better idea?

yea practice on demo accounts will be better

Going live with not much knowledge of the market is a mistake. Please use demo account.

78678676 posted:
Going live with not much knowledge of the market is a mistake. Please use demo account.

yea i have suggested him the same thing

***RULE 1.
Stop loss 'must below 7%'
Don't flow the trade in a long time

78678676 posted:
Going live with not much knowledge of the market is a mistake. Please use demo account.

How about micro accounts? For a more realistic approach

advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.

Yes, you should gather knowledge first. It is never possible to trade without acquiring research and knowledge.

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.

Gushenman posted:
***RULE 1.
Stop loss 'must below 7%'
Don't flow the trade in a long time

Hmm, I was thinking between 10 and 15, bad idea?

AliaDare posted:

advancedsmifser posted:
I want to trade upto 150 lots/month. I am concerned if I would chunk my higher profit margins to pay the commissions.
I am presently gathering more knowledge on forex and already into trading but not much experienced. Thank you for your help.

Yes, you should gather knowledge first. It is never possible to trade without acquiring research and knowledge.

I am actually doing that, in fact I’m on the verge of thinking if I’m overdoing the learning bit :) should just take the plunge now I suppose

Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.

You can contrast 2 or 3 brokers as per their commission rates and go with the one that is the lowest.

No one wants to spend so much on commissions and because of that a lot of new traders end up using very low cost brokers and get scammed. So don’t just look for the commission rate and try to analyse other aspects as well. If you find a broker that is too good to be true, don’t trade with it. There will be some hidden surprises there.

Is anyone here using a no-commission broker?

advancedsmifser posted:
Is anyone here using a no-commission broker?

I honestly prefer brokers with lower commissions and tighter spreads. As long as the commission cost is less, I don’t mind paying that in lieu of low spreads.

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.

Gleywilleyy posted:
Hey, the answer is simple. Just look for a low commission broker that is also regulated and has good trading conditions.

True that do u know any??