I couldn't post in Money management thread, unfortunately it's closed. So I had to open a new one.
I'll be very grateful if someone could make thing clear to me.
I have $5000 demo account with 200:1 leverage. Question is: what size lot I can trade if I want to risk 2%?
2% of my deposit is $100.00
If I want to set a stop 20 pips = $100/20=$5 pip Right?
And then I got lost. What do I do next? Does it mean that I can trade half of a normal lot? Normal lot is 100.000, so I can trade 50.000 lot?
How to apply 200:1 leverage to this calculation?
Thank you very much for help
I'll be very grateful if someone could make thing clear to me.
I have $5000 demo account with 200:1 leverage. Question is: what size lot I can trade if I want to risk 2%?
2% of my deposit is $100.00
If I want to set a stop 20 pips = $100/20=$5 pip Right?
And then I got lost. What do I do next? Does it mean that I can trade half of a normal lot? Normal lot is 100.000, so I can trade 50.000 lot?
How to apply 200:1 leverage to this calculation?
Thank you very much for help