Hi everyone. I am Ameka, and am very new to trading, I first heard about forex trading in 2016,I tried to lean about what its all about but I never found any helpful materials online. So I gave up and continued to struggle with life until early this year when I came across this site (baby pips. Com) on my Google feeds. I went ahead and subscribed for education. I have gone through the pipsiology academy a number of times and truth be told, this has added some much knowledge on my journey to become a successful trader.
However, I honestly have found difficulties understanding the subject of positions and lot sizing and how they apply on the MT4 demo account. Can anyone help me understand this as its the only challenging part before I register for a live account. Thanks
The best thing to do (if you don’t have a robot to help with position size) is to use the babypips lot size calculator when filling in your order. Basically the combination of your stop loss and your lot size determines how much you risk with your trade. The larger your stop loss the more risk for the same lot size. And the large your lot size the more risk for the same size stop.
Read over my thread. After 3 years I can still use .01 and make Awesome money per week. New traders watch what others do and over leverage their account.
Go over Risk Management on Babypips here and you can also Youtube RiskManagement ,Lotsizes .
My lot size is higher per my account size which is explained in my Strategy. I never ever ever go against the Trend.
TabiusLee
The Proven Profit Strategy
Babypips Trading Forum
Thank you Sir.