I think 1:20 leverage is the one which most of the beginners choose. You can also look at it.
According to me, if you want to make money you should go for 200:1 because making money through 1:20 is a bit difficult. You can rather learn in 1:20 leverage. Usually, a beginner opts for low leverages so that they donāt have to take any risks but how would you trade without taking any risks. XM and Turnkey forex provide flexible leverages, so you can have a look at them.
Absolutely. After all everybody is here to earn money and risks in forex are worth taking for.
Yes that is correct,all I wanted to say is that the newbies should go for low leverage so that they donāt put large capital in risk.
I believe with a small capital a beginer can use a high leverage like 200 or 300. Thats how you learn
Iāve been in Forex for 6 weeks now and use 100:1 leverage. However, I follow the advice of a very good adviser, who keeps the exposure on my account low, and has 10 years of experience as a professional trader, so really knows what heās doing.
If youāre trading alone, Iād keep the leverage low until you find your feet. It means profits will be lower, but so will your losses. But it could mean the difference between trading and going bust.
The best leverage for a beginner to trade is 1:20 because the risk and capital investment in it are lower and also give beginners the experience of live trading.
Can you please share whom are you following?
When I started trading, I played quite safe and went for a low leverage of 5:1 even though there were a lot of fellow traders who suggested going high. Itās just that the idea of taking risks didnāt go down well for me till the time I was clear about my strategies and skills.