Hi,
I have just completed the course and started trading demo. planning to trade demo for the next 6 months then decide whether I wanna risk real money or not. I have a day job so this would strictly be a side thing and I know I can lose the the 3K I have as starting capital so that’s OK (did I really mean that? :31: I hope not of course)… and I don’t expect 5% profit per month with that tiny capital. just being realistic here.
So here’s my problem! I went though lot sizing in the school of pipsology but still confused when it comes to applying that on MT4.
I opened a Mini account with starting capital of 3000. and chose 1:3 leverage while setting up my account.
Question 1 - Account settings
Is it possible to adjust/change that leverage in a demo account or do I need to open diff accounts for diff leverage?
Question 2 - Lot sizing
I entered my very first trade with Volume 0.03 and existed just after making 8 pips (wouldn’t do that in a live account of course) and my balance moved from $3000 to $3001.68 that’s where I got lost. see history below:
Can someone please explain to me how that profit was calculated? did my initial leverage of 1:3 (that I cannot change) affect it at all?
current balance:
Also, when they (pipsology school) say for instance, Ned’s position size can be no bigger than 3,750 units.
Where do I input that 3,750 onto MT4? all I see is volumes from 0.01 to 8.00!
Thanks in advance for your assistance