Hello traders!
I’ve recently started learning Forex trading. I have a newbie question regarding two different trading platforms. It’s related to the margin/free margin/equity/balance thing.
On the IQ Option trading platform, when I trade Forex, I can see my balance. Before I enter a trade, I can choose my investment, how much I basically want to risk. Let’s say my balance is $100 and my investment is $50. If the chart goes against me, I’d only lose $50, not the whole balance. Then the trade closes, I still have $50 as my balance.
So my newbie question is… On the Metatrader platform can I set an investment amount (like $50 out of my $100 balance) like on the IQ Option platform? I can only set the lot size so if the market goes against me, I can get margin called and lose all my balance, no choice. Of course I could set a stop loss or close my position earlier, but I want to know if there’s a way not to risk all my balance on the Metatrader platform.
I know this question is really noobish but I’m still getting familiarized with the different platforms and want to improve myself.
Thank you so much for reading my first post and I’m looking forward to your kind replies, explanations.
Have a lovely weekend.
Mordengaard
EDIT: if you want me to upload an example picture of the IQ Option platform, please tell me.