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My concern on lot commissions

Johnathankim
Mar 02 at 12:45
29帖子
@Mike Absolutely why not, even if I am able to save a penny more on one platform comparatively, I am a much happier trader

advancedsmifser
Mar 02 at 12:46
35帖子
robindude posted:
advancedsmifser posted:
Any tips would be helpful, I am as it is not risking more than 1%

1% is fine, even 2% is the maximum that many can hope and to achieve without risking too much. I have been getting 1.5% to 2% risk management for the most of my trades and I am pretty happy with that.
And for the tip, pick one pair and try to stay trading with the same one. And consider using limit order.

What pairs are you trading?

PercymcDonnell54
Mar 03 at 04:59
23帖子
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.

donelderly
Mar 03 at 10:42
22帖子
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.

That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.

Rosstaylorr
Mar 04 at 05:03
25帖子
donelderly posted:
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.

That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.

Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.

PercymcDonnell54
Mar 04 at 08:22
23帖子
Rosstaylorr posted:
donelderly posted:
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.

That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.

Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.

That seems manageable and honestly I see no harm in being careful while trading. Using stop loss, lower leverage and cost effective brokers can add up to a good risk and money management.

antonyhollinwooe
Mar 04 at 11:10
34帖子
PercymcDonnell54 posted:
Rosstaylorr posted:
donelderly posted:
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.

That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.

Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb, Fxview), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.

That seems manageable and honestly I see no harm in being careful while trading. Using stop loss, lower leverage and cost effective brokers can add up to a good risk and money management.

Thanks for that. I was advised by my trader friends to trade simply and without risking so much at first. Trying to learn with every step of the way.

Mikehamilton
Mar 05 at 04:54
33帖子
donelderly posted:
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.

That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.

That is very good advice and I think every beginner should be aware of such details. Trading 1 lot is fine to begin with.

Adamgylicrist
Mar 05 at 10:53
38帖子
It doesn’t matter if you are trading a demo or going live, a lot size often helps traders in understanding how much to risk and how much they should trade. Better to determine the lost size for trading in the beginning.

desertdye
Mar 05 at 13:05
20帖子
Rosstaylorr posted:
donelderly posted:
PercymcDonnell54 posted:
See you can trade lots according to your risk tolerance. You can try trading 1 lot for the moment if that works for you and keep learning more.

That’s right and even for beginners, it is fine that they go with one lot at a time. Much more important is the risk and money management here. Can’t take that lightly.

Trading with lower lots can be a very good tip and this also allows a person to manage their accounts well. This will also prevent them from getting any margin call and to avoid that, some measures should be taken. Like when I’m trading with about 1 lot using some platforms (Xtb), I try to keep my leverage low. This allows me to save myself from higher risk. It is better to go with low commission brokers so that you don’t end up losing most of your money in commissions.

It is nice that you at least know how to go about the leverage and I’ve seen most newbies fail because they kept risking very high. As for me, when I started with it, I also went as high as 1:500 at times with some brokers, Fxcm, etc. and I ended up losing almost everything. Now I prefer keeping it low and playing safe. Using the same platforms but keeping the leverage ratio real low.

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