Newbie percentage Lot?

Hello Everybody!!! I have enjoyed reading the forums and the strategys from Phil and Trevor and the info from Clint among others:).I am ready to get in the line of fire with a live account.I opened a account Oanda with a 2 thousand capital.What would be a logical size lot would it be one, at 20 or 40-1 leverage.I gave myself a ultamatium(or goal:) to be either profitable after 50 trades or have more winning trades than losing ones,with a drawdown cutoff at 40%.All trades will be logged as soon as made on pen and paper after trading sessions my views on what transpired will be noted.This is something i know for me has to be done.That part of the brain needs to be worked out.Any money managemnt advise will help.Thanks

[B]Have you completed the BabyPips School?

Have you demo-traded the strategy you plan to use in your live account?[/B]

I’m asking, because [B]if you don’t know how to size your positions in a way that’s appropriate to your account size —[/B]
I’m wondering whether you’re ready to go live.

Maybe you can tell us a little more about where you are on the learning curve.

Clint

Thanks for responding Clint.I did go back and reread Pips school,i do understand the risk with Leverage.I am going with a 20-1 Leverage on my account,Oanda deals in units ,so that roughly around 28 thousand units of which a loss of 2000 units will bring on a margin call.Money management will be around the 2000 units my units per trade will around 2-3 units with a 30 to 50 unit stop loss.I will have a kill switch of around 800 units(40 percent).I been readings books on strategys you mentioned Boris(can not remember last name)on one of your messages, his partner wrote a book i read and been applying her strategies slightly modified on a demo account.The demo account has been profitable, back testing also.The risk to reward ratio 8/5 to 3/2 profit to loss.

3/2 profit to loss? Do you mean that to be your winning ratio?

How long have you been demo-ing for?

All the best, let us know how it turns out.

I think you are misunderstanding something between leverage & lot size and risk.

Leverage does not dictate risk % or lot size. You choose your lot size AND your what your risk is per trade REGARDLESS of what your leverage is.

If you want to risk 1% of your account you can do that wether you have 1:1 leverage or 500:1.

Your lot size determines your per pip value. So, say you want to risk 1% of your account and have figured that 1% = $100. Then you find what is a reasonable SL for your method. Divide 100 by your SL, that is your per pip value. Then trade a lot size that gives you that per per value.

See how leverage has ABSOLUTELY no effect on that?

All your leverage ratio says is how much you need in your account to cover a trade. A 500:1 leverage ratio says that for every 500 you trade you need 1 in your account to cover the trade.