Hi there. Anyone here knows the list of lot sizes from atleast $200-700? Thank you
Hi, lot size is depending on your strategy (max drawdown). Regards Greg
You are the one to choose your lot size. If you are using a micro account, your lot size is equal to 10000 per unit. With this you can trade in cents if you want to. Use the margin calculator from your broker to know this.
Fixed lot sizes aren’t a good idea for me as this should be calculated for each trade you do based on your trading bank and level of risk
You should really read the babypips school again. The lot size should be calculated using the formula involving things like stop loss, leverage, equity, current open positions and so on, value of the pips. Adjust lot size and make the total risk no more than 2% per trade.
Lot size is not just dependent on the capital that you want to use, but various other factors as well. Like the stop loss level you plan on using, and also the leverage that you intend on taking. However personally I would recommend to go for a lot size of 0.01 lot, you can buy 10000 units with that. I use fxview and sometimes even fxtm to trade micro lots as I am still not using very high trading capital. The commission charges of these brokers suit me, especially fxview which is $2 both side, fxtm is slightly higher than this at $4 but still reasonably better off than most others.