new to forex, page-11

  1. 440 Posts.
    Hi Guys,

    I recommend trading microlots until you are comfortable trading larger margin.

    i.e trading a single mini lot you are subject to 1 USD a pip on i.e. EUROUSD pair.
    Considering to succesfully trade forex, you are not looking at scalping tactics to start off with as a new trader, you are looking at more trend trading, your SL's are going to be alot larger. i.e 100pip SL.

    Now if trading mini's this can be $100 USD loss on a single trade and remember only 5% of traders are successful.

    My per my recommendation, micro lots will be as small as 1c USD, so a 100 pip SL will be only 1 USD.

    Once confident, then increase your lot sizes, but make sure you are doing well with your strategy prior to proceeding!

    ...always DYOR, I am no expert!
 
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