Hiya,
I'm soon thinking of opening my live account after months of demo'ing. I was wondering if I could get help with this.
Basically, I'm thinking of taking it slowly not to be aggressive. So what sort of deposit would be good for a beginner? I was thinking something like £500. Is that too much or too little?
Also pls can someone give a sort of formula as to how to work out what lot sizes I would need to use & the corresponding SL & TP if I'm looking at a RR of 1:2 (i.e. i'm ready to 1 to make 2). I plan to use MT4. I know different platforms refer micro/standard lot for different amounts.(for some a standard lot is 100,000 for others its 1000,000)
I'm sure this sort of info would be here somewhere so even if you send me the link to a great thread that would be benefitial.
Just short answers even with what you started with & your trade sizes would do to help.
thanks
regards,
Pret
I'm soon thinking of opening my live account after months of demo'ing. I was wondering if I could get help with this.
Basically, I'm thinking of taking it slowly not to be aggressive. So what sort of deposit would be good for a beginner? I was thinking something like £500. Is that too much or too little?
Also pls can someone give a sort of formula as to how to work out what lot sizes I would need to use & the corresponding SL & TP if I'm looking at a RR of 1:2 (i.e. i'm ready to 1 to make 2). I plan to use MT4. I know different platforms refer micro/standard lot for different amounts.(for some a standard lot is 100,000 for others its 1000,000)
I'm sure this sort of info would be here somewhere so even if you send me the link to a great thread that would be benefitial.
Just short answers even with what you started with & your trade sizes would do to help.
thanks
regards,
Pret