Hello,
So I have been trading nothing but Binary options and now I am getting into Forex. I am currently using FXCM demo account but I have a few questions that I was wondering if this community could help me answer.
1. What exactly is margin call and how is it used? I've seen the 1:1, 25:1, 50:1 and all in between. What is the best one to use?
2. From my understanding, if you have a small account balance and your trade goes too far in the hole, it auto sells it, how exactly does this work?
3. My end goal is to have an account balance to have a trade up to -35 pips max without auto settling. What kind of balance and leverage do I need to accomplish this?
Sorry for the "Rookie talk" and thanks in advanced!
So I have been trading nothing but Binary options and now I am getting into Forex. I am currently using FXCM demo account but I have a few questions that I was wondering if this community could help me answer.
1. What exactly is margin call and how is it used? I've seen the 1:1, 25:1, 50:1 and all in between. What is the best one to use?
2. From my understanding, if you have a small account balance and your trade goes too far in the hole, it auto sells it, how exactly does this work?
3. My end goal is to have an account balance to have a trade up to -35 pips max without auto settling. What kind of balance and leverage do I need to accomplish this?
Sorry for the "Rookie talk" and thanks in advanced!