What are your thoughts on opening an order on EURUSD with a lot size of 0.5?
Depends on the size of your account and the average risk in pips you are taking on your trades
Lot size of 0.5, you should have at least 10K in your account if you risk 20 pips per trade. So you risk about 100$ per trade, 1% of the account.
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Right. What’s your account balance like? Any other trades? How are you managing risk?
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Suppose it depends on your risk to stop loss.
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mine are identical to those of averied, just above
with a 20-pip stop-loss, i’d need $10k in the account
with a 10-pip stop-loss, which i sometimes use, i’d need only $5k, for the same risk % at $5 per pip
(that’s if i risked 1% per trade, of course, as averied specified)
account size??? what do you mean??
do I have to set at 0.1???
Deposited $200 .
yes just one trade on BTC
Yeah I know that.
Thanks pauley?
do you have open trades on EURUSD???
Yeah he said what it was needed to mention and care.
I guess I should set sl on 5pips for $200
Nope, I’m follow the trend and at the moment the trend signal on the D1 is different to the H1 and M15 so placing a trade now would be too risky for me.
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$200 you should trade 0.02 max
i respectfully disagree
i think with $200 he should trade 0.01 max
in fact, to be honest, i think he should probably have at least $250 to trade 0.01 lots safely and sensibly
the point is that you should determine your stop-loss size from the chart, from price action, and then determine your position-size according to the stop-loss size
TradingConnector would help you set up your alerts and auto execute your trade on MetaTrader and you wouldn’t have to miss.
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I wish you best luck on your future trades.
by 0.02 you mean lot??
on what pair?
I will do it now.
to see what will goes along.
and let you know further.
You make a valid point, exactly this will help me to tp access the chart and price action examine the appropriate st level. am I right?
The decision of what lot size to choose , it heavily depends on your strategy and your risk management.
may I ask what is you main risk management strategy?