Pls...i need opinions?

Hello guys…

I need some opinions regarding this matter. I’ve got USD10K (mini) and in process to trade only one currency pair GBP/USD.
Lets say i prepared the margin USD1000, for each 10K(unit), means that i can open up to 10 position.
I need some views on this…what is the different if i opens 1lot 100K unit and 10K unit, where i can separates more than 1lot into different prices ?

Does anybody can give me some advises…in terms of liquidity and safety ???

:confused: :confused: :confused:

All the replies highly appreciated, thanks…

Only thing i can say is that instead of trading 1 standard lot (100k), it would prolly be better to trade 10 mini lots (10k), that way you could set different limits and possibly stops also. Only if you plan on trading that way, i’d think it might be alittle safer. The spread will be the same. Hope this helped abit.

Happy Pippin

Do NOT ever even consider using your full 10k to hold one or even multiple positions. That’s a recipe for destroying your account very quickly.

You can trade full lots with an account like that, no problem, but you are better off trading mini or micro lots while you learn the markets and get your trading properly on track.

$1,000 capital for a mini account?

You will not last long my friend.

I suggest getting a micro account.

take it slow, low gearing, dont blow the account before youve learnt the trade, be in the game long enough to reap the rewards.

NEVER risk more than 1 or 2 percent of your capital on any one trade.

(Money management lesson 1,369!)

You guys have strayed from the original question. Is it better to trade 10 mini lots as opposed to 1 standard lot. I believe it is better to trade the mini lots. Especially if you can only afford 1 standard lot. That way when your capital dip belows 10,000 then you can trade 9 mini lots instead of not trading at all! But these folks are right, with 1,000 capital I would trade a micro. I personally would trade 1 micro per $200. However, some would recommend like 1 micro lot per $500. It is all a matter of preferences. However, the point is, whatever lot your trading make sure you can trade multiplies of them. That way when you capital dips down you can adjust your lots according to your position sizing rules!

::slight_smile: Thks to all your replies guys…

my second thought

How do u think about these styles of trading. I trade gbp/usd pair only…with currently in short position. My standby drawdown for each open position between 1000-1500pips. I controlled the maksimum lot which can i open and be discipline. I always monitor the usable margin. When i touched max open limit, i’ll stop…If all the trades against me then i just takes time to wait.
I’ll try to follow their cycle…support and resistance.

Hope u all can give some ideas…
:slight_smile: :slight_smile: :slight_smile:

1st consider your risk 2 or 3 % of your equity, then check your long or short positin with related stop loss which is considered, then you can find out how many lots you can open totaly or separate from each other.
Have a good Trade