Quote:
Originally Posted by daydreamer65
The leverage that traders are talking about is for their trade size...
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I would correct this to say there are two types of leverage traders speak about. One is account leverage or permissible leverage. This is your broker's setting and the leverage which determines your margin deposit for a given sized position (or how much you can trade for your account size). The other is used leverage or gearing, which is position size divided by account size. So yes, it is entirely possible to trade 2:1.
That said, if you're trading EUR/USD (which the pip values suggest is likely) then the value of your trade is up over $30,000, not $20,000.