Good day Guys…
Please as a beginner planning on opening a $100 account which leverage do u recommend for me…
I need u guys advice…, I will be trading precisely on nanolots
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most of the beginners i have seen always fall a great trouble when using leverage with high ratio. really high leverage for all time contains huge risk.
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leverage is really a complicated issue , sometimes there is a chance to bring profit by using leverage , but one requirement you have to make sure most powerful analyzing money management.
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so many traders always consider high leverage as high risk , but i dont think so , if there is any risk its completely with non sense planing with zero risk management plan, nothing without it.
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there are so many financial tool in forex trading , from all leverage is most important , because leverage is thing which traders focus when choosing a broker.
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I always advise all beginning traders to use small leverage. New traders are often greedy and want to make a lot of money, so they often use high leverage, thus increasing their risks. Because of inexperience, they lose their investment very quickly. By trading with low leverage, you reduce your risk, and you will be more comfortable with losses, which will help you to be more balanced in your trading. Of course, as you gain experience, you will become more confident and may want to increase your profit from deals by increasing your leverage.
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Like everyone else, I would suggest you not to be greedy in the beginning and use as low leverage as low as possible.
For an absolute beginner, I would suggest not to use very high leverage. It may be very appealing, but your risks also increase with it. First, devise your trade strategy and make small trades with your investment and see how it turns out. If it works a couple of times, take the leverage leap.
Anything below 300 is good to go. Use smaller leverage in your initial days of trading, go slow.
A beginner should prefer trading with lower leverage because it would have minimal risk and loss value than using higher leverages, and high leverages are mostly used by experienced traders with money management skills.
I am also a beginner, but I find it’s not the leverage that you should be factoring, it’s the % that you are looking to risk per trade according to your strategy. Use a lot size calculator to work this out, I tend to go with a risk of 1% on every trade.
What’s important for me is that I can have the same 1% risk for each trade so that I have consistent results that can be tracked over time. If your leverage is too small, then you may find that sometimes your broker will prevent you from taking a trade at your risk %, and you don’t want to be adjusting your risk % because of limitations with leverage.
Best of luck
You can try with 500X leverage , because with $100 as the deposit, it will provide you quite a margin to execute your trades.
Beginners should trade using lower leverage so that there is no major risk and losses involved. It also gives beginners to experience live trading and learn more about the forex market.
If you have up to $100k I don’t think you even need up to 1:50 to trade Forex
i have seen most of the time beginners use high leverage at the early stage of trading , its totally incorrect decision , actually they dont know that without using leverage it is possible to trade continue.
make strong money management and bring more money by means of leverage. but sometimes it causes a great risk
For beginners I suggest trading with a lower leverage so that if you fail even in several trades the loss is lower and not much risk is taken. Using lower leverage will also give beginners the experience of live trading without blowing off their accounts.
New traders shouldn’t be greedy to earn more as they might end up losing if they take higher risk. Initially you should focus on learning and for that it’s better to keep your leverage not more than 200:1
For beginners, lower leverage is the best because they can live trade without risking much of their capital and gives them the liberty to understand the live market trades in-depth.