I'm a little confused about leverage calculation in relation to position sizing.
Let's say I have 2 accounts with 10,000USD in both of them.
In the first account, I'm on 1:1 leverage. So that means I can only trade exactly 10,000USD worth of contract right, meaning only a mini lot?
In the second account, I'm on 1:50. So 50 x 10,000 is 500,000. That means 5 standard lots.
Am I on the right track here?
Another question, if I were to risk 3% on 50 pips with EURUSD. That means on both account, I can only trade 6 mini lots?
Let's say I have 2 accounts with 10,000USD in both of them.
In the first account, I'm on 1:1 leverage. So that means I can only trade exactly 10,000USD worth of contract right, meaning only a mini lot?
In the second account, I'm on 1:50. So 50 x 10,000 is 500,000. That means 5 standard lots.
Am I on the right track here?
Another question, if I were to risk 3% on 50 pips with EURUSD. That means on both account, I can only trade 6 mini lots?