What is the minimum notional lots size to trade for a $200 account size to manage risk. According to the calculator I have the below figures but in MT4 you can’t trade less than 0.01lots. pls help I’m confused
If 0.01 standard lot (1,000 units of currency) is too large for you, then you need to search for a so-called nano account, penny account, or unit account, so that you can trade smaller position sizes.
Here’s one example: Oanda accounts allow you to trade any number of units, even just one unit.
Here is a screen-shot of the Buy/Sell window in Oanda’s demo account.
The chart I clicked on was the USD/CNH pair (US dollar vs. the offshore-traded Chinese yuan), but the platform works the same for all pairs.
I filled in the “units” box to indicate 100 units, but any number of units could have been entered.
Oanda is a very large, world-class broker. Oanda is one of the two largest brokers in the United States. I don’t know whether Oanda is available in your country. And I don’t have any nano account or penny account recommendations for you. You will have to do your own research, and your own due diligence.
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Oh really!!! Thanks so much for this. I will do my research and get the proper platform to use.
This will be the limitations of using a standard account with a smaller capital for sure. You are using 2% risk but the SL is 100 pips so you’d end up having to take higher probability trades in order to get your 0.01 lot size (40 pip SL). It is this reason many are driven to take higher risks and blow accounts. Using a micro account would be the way to go until you can afford to use a balance of probably $500 for your trading at least I’d say.
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