DislikedWhat leverage will you advice as a newbie trader to use? Do you think 1:1000 is too high for inexperience trader to use? Because I have been advised against using high leverage but again I thought it broker have provided it why wonít I use it. What you think?Ignored
If you don't know which is your optimal leverage for your timeframe and cannot define the position size and TP level that will protect you from a margin call no matter if you use or not SL, it means that you are not still a newbie. You are still a person who is learning to trade.
So do not put one single cent in a real market until you are so tired of practising and winning in demo mode and using simulators that you have a clear response for all those stuff by your own experience.
Otherwise, be prepared to burn all your account in a few weeks and lose all your money in a glimpse of an eye.
Learning to trade requires years of practice in demo. If in a hurry, then chose another business easier than Forex.