Hi Everyone,
Just getting ready to start my first live account with Oanda Canada and I've got a bit of a surprise. I normally trade with a 10-15 pip stop loss, risking 2-4% of my account equity (i know this may seem high but trust me). With $2000 in my account this makes my lot size typically 0.25 - 0.8 lots for Eur/Usd. However, due to canadian margin requirements of 5.4% I can only open 0.25 lots total at one time! This means I cant enter a trade with a stoploss smaller than 15 pips without reducing my risk to less than 2%.
What can I possibly do about this? Do I have to throw out my entire scalping strategy and start swing trading with wider stop losses? I'm really nervous all the prcatice I put in with this method will be useless.
Any help would be appreciated.
Just getting ready to start my first live account with Oanda Canada and I've got a bit of a surprise. I normally trade with a 10-15 pip stop loss, risking 2-4% of my account equity (i know this may seem high but trust me). With $2000 in my account this makes my lot size typically 0.25 - 0.8 lots for Eur/Usd. However, due to canadian margin requirements of 5.4% I can only open 0.25 lots total at one time! This means I cant enter a trade with a stoploss smaller than 15 pips without reducing my risk to less than 2%.
What can I possibly do about this? Do I have to throw out my entire scalping strategy and start swing trading with wider stop losses? I'm really nervous all the prcatice I put in with this method will be useless.
Any help would be appreciated.