I developed a very good strategy.
Now I want to scale up.
But I am not sure what is the maximum trading account size.
Anyone knows?
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FX trading is a trillion dollar market. You will be able to trade any size you require.
Really?
How much was your maximum trading lot size?
I would suggest with a $15K account that a max of 0.20 would be suitable. If in doubt message your broker firm.
besides making a good trading strategy it is more appropriate to develop a perfect money management.
Yes. Strategy + money management + emotional control = success.
Worry about growing whatever you have. You still won’t ever be noticed in these markets I assure you.
In the UK there is a scheme which brokers must be members of which compensates clients if the firm goes broke. The maximum claim a client can make is £85k. You can put as much capital into your account as you like here, but anything above this amount is not “insured”.
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Thank you for your advice.
Then what is the maximum lot size for a trade?
Sorry, I’m spreadbetting so I don’t even know what a lot is.
Margin requirements in the UK seriously restrict trade size. For example, if I open a position on GBP/USD worth only ÂŁ1 per pip the broker would set aside about ÂŁ420 in margin.
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Should be available via client. MT4/5 displays it as maximal vol against each trading instrument:
This value may change from broker to broker and account type. For e.g. Mine’s a standard account with 1:100 leverage. Might be a higher limit if I had 1:30. Best to get a hold of your broker and inquire.
I kinda feel a broker will happily take any amount of money you want to put into your account.
You must precisely estimate price movements to be successful in FOREX day trading. For as little as $50, you may begin day trading forex, but your profits will be limited. Using more than 1% of your account balance on a forex trade is typically not recommended.
It’s entirely dependent on your budget and how much you wish to risk for your overall capital. Trades are made in lots. Which one have you chosen?
I am considering 10 lots at a time.
Keep in mind that the foreign exchange market is worth trillions of dollars. You have complete discretion over the size of the trades you make. In a situation like this, there is no limit. You must, however, make it a priority to educate yourself on how to properly manage your finances. In the long run, it will be beneficial to you.
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The rule of thumb is to keep no more than is needed to sustain a streak of losses (like 5-6-7 losses in a row) for your current lot size so drawdown won’t exceed 50% of initial equity. As you increase lot size or decrease leverage the amount of margin should be increased as well. Just try to work out the notion of working capital and calculate it according to your requirements and risk preferences.
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You are free to trade any amount you want. Remember that the forex market is worth trillions of dollars. It’s possible to get started for as little as $100, and there’s no limit to how much you can invest maximum.
As a rule of thumb, you should be more concerned with risk management than trading capital.
You can begin playing with as little as one hundred dollars, and there is no upper limit to the amount of money you can bet. However, in order to be successful in trading, you need to have a solid trading strategy and solid money management.