Have I got this right? I am not risking more than 2% of my bankroll with any one trade. So if I deposit $200, get 100:1 leverage I can trade in 10k lots as long as I always set a stop/loss at $4?
Yes. One thing though, the spread and normal range movement may trigger your stop if you trade a 10k lot. Start with 1k lots.
I agree with the micro lot as well. Heck, I personally would only trade a nanolot with $200.
But it’s all accordance to what time frame you are trading on and what the average size of your stop loss will be.