Thread: Starting with OANDA and bad leverage from them

I am funding my account from OANDA and they don't give out as much leverage as other brokerages. The max they provide is 50:1. I want to use OANDA because I hear they are the only ones that actually respect news trades.

Just how much money should I deposit to be secure (so I don't get margin called following goin down a bit) and be profitable (presuming I make adequate number of pips)

I am not Bill Gates, I am a college student. I have a nice quantity of money. What you guys say?

If my margin look like 50K? 100K? 200K? more?

Thanks.

Originally Posted by ;

I'm funding my account from OANDA plus they don't give out as much leverage as other brokerages. The max they provide is 50:1. I want to utilize OANDA since I hear they are the only ones that really respect news trades.

How much money if deposit to be secure (so I don't get margin called following goin down a bit) and be profitable (presuming I make adequate number of pips)

I'm not Bill Gates, I'm a college student. I have a nice quantity of money. What you guys say?

Should my margin seem like 50K? 100K? 200K? more?

Thanks.

I'm using oanda and the 50:1 leverage has never been a problem for me. If that is not enough for you maybe you need to reconsider your cash management. I really do not how you trade and what type of MM you employ. If you could be more specific I might be able to provide you a better answer.

Your gonna open a 50K acct using a business and you do not even know how to calculate margin?
If you would like to provide the money off - why do not u return to a local shelter or something. That way you can actually do some good by it.

I'm using oanda along with the 50:1 leverage has never been a problem for me. If that's not enough for you perhaps you need to reconsider your money management. I do not how you exchange and what kind of MM you employ. If you might be more specific I might have the ability to give you a better answer.



I'm more on the conservative side because I'm new to Foreign Exchange. I exchange the news and I use a program which I need to break at least 200 per month.

For example I ussually try to exchange 20,000 and after a spike I close half my position and allow the rest ride a bit before closure. Is it clear? Cause I'm new to this so I might have trouble myself describing stuff.

50K? 50K in margin I mean maybe not 50K of my money.

I believe $1,000 of my own money is 50K

There's a sticky at the peak of this beginners forum entitled Money Management. Reading and understanding that's essentiel to a future success.
You are wishing to make a consistent 20% monthly return on your 1000 so you're able to pay for a few news trading appliion. Sorry Dude, but my opinion still applies.

Originally Posted by ;

50K? 50K in margin I mean not 50K of my own money.

I believe $1,000 of my own money is 50K

Okay, you are clearly clueless, so let me assist you.

Don't believe in terms of what the money represents, consider what you have.

Talk concerning the amount of money you are considering putting in, which for a miniature is usuallly anywhere from $250 to $2000. If you start an account with more, youstarting a typical account.

I think the highest you'll find a normal account offering is 1:100 leverage, and it goes from there.

The maximum leverage for a mini account is 1:400.

$1000 is a lot for your very first Currency Market account, particularly if the leverage is 1:50 as it is at oanda. Some people(including me) think it is better to begin using a smaller amount in your first account since the majority of traders lose their first account. But do not thikin of it as losing, think of it. The other arguement is a smaller account makes the inexperienced trader risk greater than they need to, and then they lose it a lot quicker. It's up to you.

I wish I could remember how oanda works exactly, but do you know what percentage 20,000 components is of your entire account? If you are new to Currency Market anything over 10 percent is bad. Trading news can appear easy at first but it only takes one crazy news day to show you how fickle it can be. It's something I would recommend for more expirenced traders. You need to check out OrangeRoshan's trading egies. They are easy and consistant, ideal for new traders.

https://www.forexforum.co.za/general...-big-deal.html

I can find out for you. I am tied up at work

Originally Posted by ;

I'll find out for you soon. I am tied up at job

First of all go and see this:
https://www.forexforum.co.za/trading...ar_serbia.html
Untill you will have a crystal clear understanding of cash management and its importance you should not place your hard earned money at risk. As stated above you seem fairly clueless about what it is you are doing. I'd advise that you instruct yourself. It might take some time and demand a lot of patience and work but it is going to pay off in the end.
Good luck!

Hi MPR_NY,

From 1 noob to another, be cautious (!!!) . I had almost the specific same questions when I opened my very first live account (also with OandA). I had successfully traded the news in demo for a couple months and believed it was time to go live. I started an account with $250 because (fortunately) I read there was a massive difference between live trading and demo trading and that I figured I need to risk as little as possible within my very first acct. I signed up with GFT because they provide 400:1 leverage. My thinking was I will get rich 8x quicker! Not I will kill my account ASAP.

I made a killing for several weeks adding 50% to my account, but then the spread obtained wider and reach either of my entries, I obtained whiplashed out of several trades, and I lost all my winnings and a little of my original capital before deciding I need to really learn how to exchange instead of merely betting on the news.

I'm not rich (however ;--RRB- ), I'm not a guru trader (yet ;--RRB- ), also that I really don't have any actual constructive criticism because I'm still learning, but if you're thinking just like I did when I started as it seems, I would save your money for the instant and also have significantly more when you're really really really prepared. If nothing else, then you can even use 20:1 leverage and make the same $$$ :--RRB-

You are in the right place though. I check this forum a couple times a day, and also have discovered a remarkable amount in the previous 6 months.

Only my 2 pips. Good luck!