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I’ve been trading for 5 months and unfortunately I’m still trading with 1 lot.
I would like to ask if there are any tips on trading more than one lot
over 2 years ago
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I don't think there is any problem with trading just 1 lot size or smaller. The main thing to keep in mind is RISK MANAGEMENT. I think you always have to keep in mind risk, margin and leverage when considering how big a lot size you want to trade. If you can handle trading bigger positions and still stay within your risk management rules, then I think its okay to trade larger positions.
over 2 years ago
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How is that unfortunate?
If you're trading with more than 1 lot after 5 months, then you'll probably lose all your money soon.
Now THAT would be unfortunate. :)
over 2 years ago
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Robert, I'd say the fact you are not sure when to increase lot allocation is best to stay as is. We have a philosophy of allocating 1 mini-lot per $5,000 invested. Keep cautious as preservation of capital is much better than disappearance of capital.
over 2 years ago
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One benefit of trading more than one lot is that you can cut down your position once a certain profit target is hit. In that way, you can create risk free trades and possibly capture more profit. You need to learn more about money management and master it before you trade with more than 1 lot. In money management you’ll learn advanced techniques like trading multiple lots, scaling in and out, pyramiding, etc. I recommend you to read “Trading for Living” and “Come Into my Trading Room” both written by Alexander Elder.
over 2 years ago
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