1KT Certified Forex Trader
- Thread starter AncientLion
- Start date
BEAUTIFUL work JungleLion, just keep it up.
When would you launch your India based Fx trading website? I guess you are waiting for the RBI to confirm & introduce Fx trading in India. What do you say?
One more request:
Please please do care about small traders like me and introduce facility to trade in terms of units alongwith regular 'lots' ATLEAST try to avail the micro lot.
Thanks,
Anchorfx.com has the option for micro lots of 0.01 also
There are 2 account types - mini and standard.
On mini account a 0.01 lot size trades at 1 cent per pip on eurousd and uses $1 margin at 1:100 leverage.
On standard account a 0.01 lot size trades at 10 cents per pip on eurousd and uses $10 margin at 1:100 leverage.
Since Anchorfx is registered in usa, rbi permission is not required. Representative offices in india can operate legally.
Hello,
I am looking for upto 3 experienced forex and comodity traders with a good proven track record. I am UK based and am thinking of setting up an office in Delhi at the same I expanding the same business into the UK as a new venture project.
Can you please advise if any forex traders are interested or can you please supply details of where I can find such people.
Kindest Regards,
Nirmal
I am looking for upto 3 experienced forex and comodity traders with a good proven track record. I am UK based and am thinking of setting up an office in Delhi at the same I expanding the same business into the UK as a new venture project.
Can you please advise if any forex traders are interested or can you please supply details of where I can find such people.
Kindest Regards,
Nirmal
nirmal forexfactory.com is a good place to look for experienced traders.
first find people who have a minimum of 4 1KT vouches, then find out the background of the people who gave him the vouches and why.
based on that you can come to a good decision on the authenticity of a trader and his experience level.
first find people who have a minimum of 4 1KT vouches, then find out the background of the people who gave him the vouches and why.
based on that you can come to a good decision on the authenticity of a trader and his experience level.
Hello JungleLion,
You told that we can ask for help, hence this question. Can you help me to digest this:
Well I'm confused with Position sizing (fixed %).
Let me first tell you till where I've reached:
Assume that I'm with a broker who offers a lot size of 400 units.
So, 1 Lot = 400 units (therefore Pip Value = $0.04)
Risk = $100
my stop loss = 100 pips
Pair = USD/CHF
Question is, how many lots can I trade with respect to the above scenario? Kindly show me the calculation in simple approach.
shantanu typically speaking, always less than 5% of account balance, 2% or less is the industry standard. More than that is gambling.
So your lor sizing should take this into consideration.
You need to understand, the amount of loss will be equal to the amount of gain, when you choose a lot size, but every loss trade will reduce your account balance thus reducing your ability to trade, and every gain trade will increase your account balance.
Instead of increasing lot size and risk factor, try increasing the number of pips earned per trade, go for longer term trades based on price action factors. [Trendlines / Support - Resistance ]
So your lor sizing should take this into consideration.
You need to understand, the amount of loss will be equal to the amount of gain, when you choose a lot size, but every loss trade will reduce your account balance thus reducing your ability to trade, and every gain trade will increase your account balance.
Instead of increasing lot size and risk factor, try increasing the number of pips earned per trade, go for longer term trades based on price action factors. [Trendlines / Support - Resistance ]
If you wish to size so that your risk equals 100$ and you know that pip value is 4 cents and stop is 100 pips then
100$ for 100 pips means 1$ for 1 pip(100 pips at 1$ = 100$ risk).
4 cent per pip per lot means 25 lots for 1$ for 1 pip.
So 25 lots at 100 pips make for 100$ risk.
But I am not sure that's what's meant since there is no %.
Maybe you meant 100$ is your account?
What % of risk do you want?
This is how fixed % goes:
Say you have 100$.
You want to use 1% fixed risk.
1% of 100$ is 1$. If your lot size is 4 cent per pip then you can not use more than 25 pips stop, as 25 pips at 4 cents(1 lot) are 1$ = 1% risk already.
You always go(random example):
Account size x % risk = total amount to risk.
(1000$ x 1% = 10$)
then
total amount to risk / stop size in pips
10$ / 50 pips = 20 cent/pip
then
how many lots are needed to get 20 cent/pip?
20 cent / pip / lot size => 20 cent/pip with 4 cent/pip per lot => 5 lots
100$ for 100 pips means 1$ for 1 pip(100 pips at 1$ = 100$ risk).
4 cent per pip per lot means 25 lots for 1$ for 1 pip.
So 25 lots at 100 pips make for 100$ risk.
But I am not sure that's what's meant since there is no %.
Maybe you meant 100$ is your account?
What % of risk do you want?
This is how fixed % goes:
Say you have 100$.
You want to use 1% fixed risk.
1% of 100$ is 1$. If your lot size is 4 cent per pip then you can not use more than 25 pips stop, as 25 pips at 4 cents(1 lot) are 1$ = 1% risk already.
You always go(random example):
Account size x % risk = total amount to risk.
(1000$ x 1% = 10$)
then
total amount to risk / stop size in pips
10$ / 50 pips = 20 cent/pip
then
how many lots are needed to get 20 cent/pip?
20 cent / pip / lot size => 20 cent/pip with 4 cent/pip per lot => 5 lots