Hi guys, can you guys help me out with my margin, I usually play with account of 1k, and my lot sizes is 0.50, and it is convinence margin for me. so what is the initial amount for me to play lot size 1.00 for convinence margin. i mean how much money should i have in my acct to play that lot size.
Thx in advance
A million steps start with the 1st step,
No doubt it goes along with emotions.
That’s hard to answer based on the info you gave.
A rule of thumb might be to : don’t worry about the lot sizes per se, instead make sure you never risk to lose more than 2% of your account in a single trade - that pip value (2% of your balance divided by amount of pips to stop loss) will then decide your lot size.
I wouldn�t recommend trading with full 1% margin capacity as this engages a large amount of risk�.traders sometimes get tempted with how much they might get that don�t have in mind that if the trend of the pair goes back it will be a completely lost!!!
My broker acm has a limited risk system, they have an automatic margin liquidation that doesn�t let you have less than 1% of funds in your account, that a plus;)