newbie question
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Thread: newbie question

  1. #1
    Hello everybody, I am looking to begin an account with 1000 dollars.
    I understand that its not alot, and should be trading micro mini lots.
    I read that Oanda you can trade 1 pennies for each and every pip and interbankfx its 10 cents to get a pip.
    Will be fine with interbankfx. Lets say I risk 2 percent in a trade that would be 20 and that will be around 200 pips. Or should I proceed with Oanda
    Thank you for the advice.

  2. #2
    You can trade 1 cent per pip in interbankfx too

  3. #3
    I would go with the greater leverage account. However it most definitly depends on the total amount of trading experience you have prior to entering the fx markets. The quantity of research is directly proportional to your original and future success, so in the event that you want to learn through experience proceed with a smaller leveraged account.

  4. #4
    Thanks guys. Do I want high or very low leverage.

    I dont understand how the thing operates.

  5. #5
    Quote Originally Posted by ;
    because men. Do I want high or low leverage.

    I dont understand how the thing operates.
    Hello jotty. . Is it okay if I ask you how long you are trading?
    I think it is beneficial so that we might know what information to offer you. .
    (Or you personally to give me. . )

    But anyway, I believe that the link posted by diallist above will give you a good idea what leverage signifies. . However, basically, leverage is calculated by the amount you're trading in regard to the dimensions of your account.
    I will repost the link given by Diallist to help you understand it :
    https://www.forexforum.co.za/trading...o-journal.html

    But when it comes to a query, I think it's safe to say you need to start with low leverage. Employing low leverage will help you gain more experience by not blowing off your account.

  6. #6
    i traded for 3 months

    blew up 1 live account so far
    haha, gonna get a stable part time job, sign up for the course
    demo for abit, then go live again or maybe demo with a micro lot account

  7. #7
    Quote Originally Posted by ;
    because men. Do I need high or low leverage.

    I dont even understand how the thing works.
    Hello jotty,

    You asked Do I need high or low leverage. The answer to that question is yes.

    There are two types of leverage: Broker Leverage and True Leverage.

    Broker Leverage: Anywhere from 50:1 around 400:1. The only practical value in broker leverage is to decrease your margin requirements. So, for that purpose, which goal only you ought to take the maximum leverage your broker provides.

    True Leverage: This is calculated as Position Size divided by Account size. As a general rule of thumb that this leverage should match the traders expertise level as follows:

    Beginner 1:1 or less.
    Novice 1:1 around 3:1
    Intermediate 3:1 up to 5:1
    Advanced 5:1 up to 10:1

    So you need high broker leverage for margin and reduced accurate leverage for trading.

    Dial

  8. #8
    Quote Originally Posted by ;
    Hello jotty,

    You asked Do I need high or low leverage. The response to that question is yes.

    There are two Kinds of leverage: Broker Leverage and Authentic Leverage.

    Broker Leverage: Anywhere out of 50:1 up to 400:1. The only practical value in broker leverage is to decrease your margin requirements. Therefore, for that purpose, and that purpose only you should take the highest leverage your broker offers.

    True Leverage: This is calculated as Position Size split by Account size. As a general rule of thumb that this leverage must match the traders expertise degree as follows:

    Beginner 1:1 or less.
    Novice 1:1 up to 3:1
    Intermediate 3:1 up to 5:1
    Advanced 5:1 up to 10:1

    So you need high broker leverage for margin and reduced accurate leverage for trading.

    Dial
    Oh yeah. . I forgot that there were two kinds of leverages. .
    Thank you for the refresher Dial. .
    Guess I'm gont get tricked by Daddy Fiji for denying. .

  9. #9
    Quote Originally Posted by ;
    Oh yeah. . I forgot that there were two types of leverages. .
    Thanks for the refresher Dial. .
    Guess I'm gont get tricked by Daddy Fiji for forgetting. .
    Speaking of spanking, Michele was asking about you the other day.

    Dial

    P.S.. The term True Leverage was chased by Fiji. Credit where credit is due.

  10. #10
    Quote Originally Posted by ;
    Speaking of spanking, Michele was asking about you the other day.

    Dial

    P.S.. The Leverage was chased by Fiji. Credit where credit is due.
    Oh no... not her...
    Any recommendation for a tricky piece of wood to place on my butt?

    Incidentally for anyone reading, don't mind the spankings about here FF. .
    All these are only the way folks here say we care.

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