Hi fellow traders. I’ve been trading for about a year now and thanks to the school of pipsology I’ve improve a lot. I’ve been trading a virtual account for sometime now and I’m ready to head into a real account. My question is how many lots would you recommend I trade when i start my trading with a $100 account? Thanks
That depends on the risk you are willing to take. If you just want to keep learning and not ready to make some serious profit, “0.1” would be fine.
Are you profitable on that real account…? I would say if you are, then start with 0.03-0.05 lot, then as it groves or vanishes, increase the size/scale back appropriately.
-P
[QUOTE=“isrealz;708117”] That depends on the risk you are willing to take. If you just want to keep learning and not ready to make some serious profit, “0.1” would be fine.[/QUOTE] in ready to make some profits and I was looking at the 0.2 but wasn’t sure if that was too much of a risk. I’ve been trading a virtual account this month while enhancing my strategy with the help of babypips. The last two weeks I’ve been profitable
[QUOTE=“Lord Piper;708130”]Are you profitable on that real account…? I would say if you are, then start with 0.03-0.05 lot, then as it groves or vanishes, increase the size/scale back appropriately. -P[/QUOTE] I’m trading a virtual account right now but I’m quite profitable. I had been trading a real one until I became greedy and lost. I’m now looking at going back at the real one because I’ve sharpened my strategy and u believe that mentally I’m ready as well.
I also start virtual trading with low lot ,My mentor advised to use 0.03 lot . I did currency and gold trading with same lot size . I try to make small profits , it was nice for me when my risk is low , I easily manage trades in time . low lot is less dangerous. As we choose high lots per pip our risk is more high.
If you trade EurUsd every pip movement will be $10 if you trade full lots, $1 if you trade 0.10, $0.10 if you trade 0.01 lots.
So, a 10 pip loss at 0.01 costs $1 plus the spread, $2 at 0.02, $5 at 0.05.
Better to trade tiny and build up as your account grows
perhaps I should ask an awkward question that I have failed to understand. kindly understand being a newbie nothing seems easy even the obvious. supposing my account is 2000$ I want to use 1:1 leverage and i want to trade 1 pip=1$ and want to risk 3%of my account on each trade.that means that I will be risking 60$ or 60 pips on each trade trading one lot. but my strategy allows to place my SL 30 pips down only ,I think that will mean I will have to trade 2 lots where 1pip=2$.my disturbing question is,does this trade meet the required threshold!?? is my leverage OK.!!?? will appreciate ur feed back and indeed any correction/ education on this.