Why is high leverage not good considering that it is same pip value as low leverage?
Just test it in the demo. You will find your answer.
Thanks for your suggestions, I have tried it but the only thing I observed is that with high leverage, I can open multiple positions because the margin requirements is low but with low leverage the margin requirements is high.
So I think the person suggesting low leverage is indirectly suggesting we should avoid multiple positions
I think so too, if you want proof you need to use the demo platform.
Done, I think I understand now, though not fully
Good advice
Trading is kind of expensive if you have small capital. You will face a margin call.
However, with less capital, making a profit is a bit risky. For this, leverage has to be selected more.
Have you started trading live? Or are you still on demo?
I’ve started trading live, though I have not made significant improvement. I only make improvement via demo. I’ve asked myself why it is so, the only explanation for me to that is undercapitalization and greed with small account size.
You’re right. I’m thinking of quiting and leave it for the big men with big bucks
You don’t need real money to trade demo and it may not be the best idea to start trading live, if you don’t have the basics. You don’t want to be one of the guys in brokers disclaimers (“beware: 76% of traders lose their capital in X months”)
Give yourself time on demo, learn, and try to come up with something worth putting real money on the table. As with instrument, you buy a guitar or keyboard, you take lessons, do all the boring exercises (demo) and once you feel the confidence - you START thinking about playing in front of people (real money). The same goes with trading. You don’t buy a guitar and jump on the stage
Pretty accurate. But I feel like won’t it be a better practice ground for you doing it live and dealing with those issues head on? It just sucks that you’ll prob blow your account but better than dealing with the fantasy world of demo no?