Best lot sizes for $100 account?

Beginner Questions
1

What would be the best Lot size for Trading currency with a $100 Account that would help me make at least $5 - $10 a day? I’ll be trading majors and crosses

1 Like
2

This depends on many factors:

  1. Have you completed the Pipsology course?
  2. Do understand what leverage and margin is?
  3. Have explored the many demo accounts offered by brokers?
  4. What is your level of experience?
3 Likes
3

I’ve not really completed it but I’ve been quite profitable with my brokers ecn Account on demo. But demo is different than live. My emotions will be involved. So I’m looking for some advice. I’ve been on the charts for approximately 3 months

2 Likes
4

Hi, ok, basically you want to average earn up to 200% per month from $100 account. Finish the education section, for your safety :slight_smile: Regards Greg

2 Likes
5

First of all on a $100 account stay away from CFDs!!! . trade cross pairs with little margin such as AUD pairs, NZD pairs which will require lesser margin than other pairs. Its okay to test how you can handle your emotions in the game. In forex you learn every single day. so 100USD is not a bad start as long as you can afford to lose. I have managed to turn a $40 account into $1000 in 5 months. As you grow your account you can venture into GBP pairs and XAU.to speed up bear in mind losses from trading these pairs too. don’t be tempted into them with a $100 account. so with that said have a trading plan and develop discipline and follow your plan. Sounds easy but not at all. Goodluck.!

1 Like
6

psychology is so important i agree , but besides this its more appropriate to trade in a demo account , its a very good combination for the trader who are particularly beginners level.

7

0.01 for forex, oil,gold and spx
but you’ll have problems because you can’t open several positions (your margin won’t be enough)

if you want to trade microlot ,prefer an account with like 300-400dollars

I agree with @Peterborren, would advice you to go on demo account for 6 months and if you was profitable every month you could go with real account between 5k and 10k dollars (ideally not more because it will be too stressing and risky, but not less of 5k because you will loose the pleasure to trade if you dont win big and wont be enough motivated to win)

1 Like
8

sounds bothering to go on demo account for 6 entire months, I know but there is many reason why this is an obligation:

  • it permit you to have an idea of what will you win when you’ll be on real account
  • it gives you good habits
  • it permit you to risk without real money
  • it permit you to understand all the tool of your broker and manage well
  • it permit you to continue to learn while doing it and become better
  • it permit you to win some experience
    -its like your final test at school where you apply what you learnt and the strategies you’ve found after backtesting
    etc

many of the newbies go directly in real account without passing the demo test therefore they never become real traders. other dont even maximize their probabilities to be succesfull in the fields (they use demo for 2 week or 1 month and think thats enough, they are so greed and so impatient to make money that they fail)

being able to trade is an aptitude hardly learnt and it will reward you way more than just throwing the money unto the market hoping you will win

while trading micro lots wont give you an idea of what it is being involved in the field with several thousands. trading microlots also discourage you and dont motivate because you dont see a real amount of money that you are able to live with. so it is likely you will abandon. and you’ll have problems to change from a micro lots account to an account of 5 to 10k (because your psychology will break you and market conditions are not the same), there is few trading materials that you wont be able to positionate unto them : because you have to risk a certain amount of money on each trade and you’ll need more margin

if you arent able to go 6 entire months of demo , stop imagining you’ll become trader because you wont

Personally I did 5 months and half of demo account but that was enough. because i was profitable every week of my test with an average perf of 20-25%. yes it was hard, yes it was bothering to see the money win in virtual and not in my account, yes it is a looooot of time that i dedicated unto it. but the objective was to get the aptitude of trading(great trading habits, great trading strategy, great trading mindset/psychology, etc) and i got it

1 Like
9

its a nice description with so many information , thanks for your nice post. appreciate

3 Likes
10

I think there are already pretty informative responses on here. :blush: But personally, I would also suggest that you reconsider this goal. :open_mouth: Definitely nothing wrong with aiming high, but I just think it might be a bit unrealistic, given the account balance. :frowning:

2 Likes
11

I trade pull backs and Impulsive waves. That got me $10 on currencies every single day in my broker’s demo account. But instead ot risking I want some suggestions here from traders. Of course, it doesn’t always work but it’s quite effective for an intraday trader like me

1 Like
12

I have my own standard sir
I don’t know what standard is from experts of the globe!
Your capital devide by one hundred equal to 1 percent.
From this 1 percent I use my own standard which is between 0.25
0.5
0.75
And
1%
Max.and in a single sometimes in few positions

13

Setting a target based on profit per day is a sure route to wipe-out through over-trading and increasing risk per trade.

The earnings target is dictated to the trader as a result of that strategy working on the capital - a trader cannot simply decide to have a higher return from the same strategy and the same capital.

2 Likes