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
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
* You must be logged in to add comments. Sign In or Join Askpips.com.
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
Source(s):
* You must be logged in to add comments. Sign In or Join Askpips.com.
Open Questions in Beginner
Resolved Questions in Beginner
- Should I go live? Please give me your advice on this.
- For a newbie, which currency pair do you think is the best to start with?
- Which do you think is better? Daytrading or Position Trading?
- For a newbie like me, is $1000 a good starting deposit in forex?
- I work full time and I'm wondering if signal providers really work. Has anybody had any experience with them?
* You must be logged in to add comments. Sign In or Join Askpips.com.