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Resolved Question
I'm a noob and I plan to open a micro account, right?
What is the best leverage for that? Is there like a maximum leverage for noobs?
about 1 year ago
Best Answer - Chosen by Voters
Hi,
I would suggest these following rules and settings if you are new:
Deposit $100-$500
Lot size: 1000 per trade
Leverage: The Maximum (1:400)
Always use tight stops/limits on every trade and practice, practice, practice !
about 1 year ago
I advise you to have:
Deposit not less than 1000 USD
Open micro account: 1 micto lot - 1000 USD
Leverage: Up to 200:1
More about leverage in forex is here - http://pipburner.com/understanding-...
about 1 month ago
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Answers (2)
Unless you're risking a large percentage of your account, leverage matters very little. But as a newbie, you could start off with 20:1.
about 1 year ago
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Hi, If you in australia might i suggest that you Open a Learning account with Go Markets. They offer a Nano pip volume (one tenth of a micro), and can only open a Max of 1 Mini ($10,000)
The account allows max of $500 deposit. which is equal to 20:1 at full Leverage.
this allows you to be in the market and practise but not to lose out a lot when starting.
The best Management system (Especially for noobs) is to place a Percentage risk on your account each time. (2% Max) risked with position sizing technique.
a good place to get a calculator is Babypips.com .
And to learn about the management that im talking about.
about 1 year ago
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3 months ago
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