Hello everyone:)
Thank you for taking the time to read my posting and to offer up your advice and information.
So I am not a total newbie…I have completed the babypips school and have passed with flying colours…but I have always had a bit of trouble actually understanding leverage and lot sizes and how they relate to your account size and how much you trade.
So I have been doing this demo account now for the last three months. My strategy has been going extremely well. I have turned a $5000 account into $26000 in less than 3 months ($11000 of that profit was what I made off of the brexit so I don’t believe that counts lol). So in 3 months I have turned $5000 into $15000.
I started the account with the leverage of 500:1.
Now basically, what I want to know is this;
I want start a $500 account with the same strategy. What leverage and lot size do I need to use in order to make my trades the same size as the ones I am making already? Like,my current trades are at $11000. how would I make my trades worth $1100 on a $500 account instead?
Here is a pic of my trades so far… if you can see how much profit I’ve made and the amount I have been making per pip (the pic shows what I bought or sold at and what it is currently at now).
Any information would be greatly appreciated.
Thanks everyone:)
