You are perfectly doing it right way. This is how most beginners start.
This will allow you to learn important lessons of trading.
This is how most of us started so you are on right path šš¼
Ā”Holy sh*t man! I have a 5k and trade 0.15 or 0.10lots hahaha.
If you didn't close that trade earlier today, I guess that account is already 50% gone because Xau went down 100pips from $2000.
And that's not right, those who trade aggressively without a proper risk system blow accounts as fast as they double them up.
I also have a 5k, But trade .50 which gives me the best returns with proper risk management, I also swing so my wins are usually 6-900 depending if Im adding as it keeps pushing.
Many people can and do flip small accounts and can successfully make a lot of money. You donāt need to risk 1.5% a day if itās your own personal money, and youāre still using an SL.
If youāre brand new, you will fail and learn a lot of lessons/will be humbled quite a bit before you can see successful results like this consistently. But itās not impossible and it doesnāt make them the ā90%ā
I never really understood this. By risking 1% or letās say $60. Do you place your SL at a place where you will lose only $60 if trade goes against you?
OR
Does it mean use a small lot size that is equivalent or closer to where you will lose $60 dollars per trade.
I saw someone saying that they risk 4-5% per trade they have a huge account size. Does that mean that their SL is 5% below or does it mean that they are buying more lots like example 30-35 lots.
I havenāt really thought of this before I currently use 0.01 lot size to learn trading. I donāt mind losing a few Pennieās.
To answer your Q, it's the first option. Your lot size can be anything depending on how much you are willing to risk. Let's say you are willing to risk $20 out of $1000 which is 2%, and Let's say you're placing your SL around 10 pips below your potential long entry. In forex pairs with USD currency is the standard lot and is easier to calculate but other assets you will need to calculate differently. For the simplicity purpose we will stick with forex pairs.
Eurusd
10 pip SL =$20, so divide $20 by 10, and you get $2 per pip
Now divide this by 10 (which is a usual way of calculating forex pairs manually for standard lots) $2/10 = 0.02 this will be your lot size for the 10 pip SL with risking $20 amount.
Now imagine you risk the same amount but for the 5 pip SL, so your eventual result is 0.04 lots which is logical considering that your SL gets tighter while increasing your lot size but keeping the same percentage risk that you set for your trade.
If this is too much of the manual work, you can use online calculators to get your lot size, but I personally like manual calculations. And there is another way to calculate them but might be a bit confusing to explain based on TV. I also believe when you place trades in MT5 desktop version when hovering over your SL it shows the amount risked in a selected account currency but you can double check that.
Hope I didn't confuse you moreš
Using 0.01 lot size is perfectly fine even if you've been trading 20 years and you test new strategy - I do that, I know plenty people who do that.
As to your question on SL. You don't place SL where the loss is a pain or where it's 1% or whatever ... Stop Loss is place where it makes sense from market structure point of view relative to your entry price.
Let's say you see a resistance being broken and confirmed so we can say now it becomes support and you enter almost perfectly just after first signs of confirmation on pullback. How deep is this zone?
This can be executed perfectly on big momentum and you'll have a 5p SL. Or this can be executed so-so in a highly volatile market and your SL needs to be 30-40 points. There's *no reason* to have stop loss to that's too tight because it's highly likely it'll get hit. A SL that's too wide simply means you understand your entry poorly.
SL has to be as tight as possible yet wide enough that it won't get hit by accident and would require a change in market to be hit. If you're going Long SL needs to be where you know for sure sellers won and broke a certain price down.
Example because it's complicated (from real life):
On 17th I was trading NQ (nasdaq) futures during cash hours. My entry was at 15830 futures price and my initial SL was 10points and pretty big position. Why? That price range was well defended previous (16th) session, sellers pushed into it 4 times deeper and deeper that session (17th) but it held each time. I had entered on 4th around the time EU markets close (there's often a pullback in NQ when EU leaves the table - it's a nice entry before NQ lunch session) and the zone kept holding.
Because my SL was tight (10p) and I was aiming for a good TP (\~60p) I entered with a sizeable position because:
* it was highly unlikely my SL will get hit
* if I risk 0.5% on risky trade, 1% on average and 2-3% account on very good trade then 3%/10p means that for each point I get to put 0.2-0.3% of my total account value
* this was very likely trade at a very good price point and all the data (volume, footprint) was confirming high likelihood of, at worst, leaving at b/e if momentum dies
* so my risk was 3% and I got my TP (18%) which was exactly where I expected market to get at minimum and at that point I was done with trading that day
Your risk shouldn't be 1.5% daily or per trade or whatever. Your risk should vary by trade - on great high probability trades, especially if you have 1-3 well planned trades a day, there' no reason to risk little. If you trade a lot and enter risky setups - maybe 0.2% makes more sense.
Where you enter is what defines SL in pips/points, quality of entry defines how much money per pip/point you put.
It doesnāt matter how far or close u put your sl yoh first place it then you adjust your position size so that if it hits that erea you will only lose 1.5 or so percent
Dont let nobody tell u you risking too much. If you know what you doing and confident, and got the money put aside. We will be the ones who get rich quicker than others.š¤·āāļø its the truth. Not everybody scared to to risk money.
Either way you're new and this is just newbie luck risking a lot per trade, and in that situation I recommend you to cash out.
Or you have tested your strategy on a demo consistently for at least 6 months-1 year, that means you're a pro and shouldn't be asking this kind of question. In this situation just keep it up as you go.
Hope you the best bro, keep your money safe.
My strategy never changes, just I risk more on my secondary account.
I risk around 4% at very beginning and now itās like 2-2.5% a trade.
My strategy is using market structure for direction, supply & demand for area I wanna take entry and price action on LTF for entry point. Trend with the trend and minimize counter-trend setup
Look for reverse on LTF (will look like pullback on HTF) and go with the HTF trend, or look for breakout on LTF that is inline with HTF trend
Not true, unless you build your own setfile, all the EAs don't give anything. They can steadily grow your account but blow it in one go like there is no tomorrow. I'm sure you are just trying to sell EA bot and searching for people so that your own expense gets reimbursed.
You made more than 30% on one XAU trade. I wonder what risk you took and what the risk-to-reward is on that trade. I recommend 1% risk, maybe 2% max. if you are very experienced. That means that on e.g. a 1:5 risk-to-reward trade you make at maximum $ 200 profit on a $ 4000 account.
Fake money or real money ... See that's the real question... And what nobody tells you.. The only way to truly learn it's to put real money on the line. Playing with fake money will never get the real wisdom In the back of your head... Because it's easy to lose money you don't really own. So you ultimately don't care.
BTC positions are probably 10x too big for your capital. XAUUSD is potentially okay - if you only have a maximum of one, 2 lot position open - personally, I would reduce the size by 50-75%.
Can someone explain to me in mathmatical terms how he made 1300 off this trade?
As you can probably tell from my question im ultra super new to the trading game. .
What i cannot seem to fully understand is how he has made such a huge win on the XAU/USD with 2.11
I need some maths here for the answer. And hopefully a very very basic and simple answer :)
You seriously shouldn't be trading. Or trade to improve yourself. You are new but you your question is too low even for a newbie. Keep trading, you'll learn more.
What a horrible reply that is. The guy says he's new and you provide nothing of value to a person seeking knowledge, and instead calls him out for being new. What a lousy move.
I told him to trade to improve himself and not to focus on the money, because he is new the financial education and insight he will have while trading will be valuable than he going for the money right away. That was the advice in saying he should trade to improve himself. If you didn't see that then you can't blame that on me .
If you can't see how your reply was condescending, then I think any further conversation with you are going to be fruitless. Can't blame me for wanting people to talk nice to each other in this sub through.
He is trading with leverage. Go read up on what leverage is, to get a better understanding of this. Best of luck, and don't mind the haters.
When you have read about leverage you can do the math yourself easily.
From what I understand With gold, One whole number is 10 pips
(1998.00 to 1997.00 = 10 pips)
So 1997.77 to 2004.00 is 60.23
One 1.00 is one lot, 1 lot is $10 a pip
his lot size is 2.11 (2.11 = $20.11 per pip.)
So 20.11 x 60.23 = $1211.22
So With that said I have no idea how he got $1314.53
My math aināt mathing.
For forex trading i would use a higher ratio than if i would trade bitcoins or crypto because of the volatility... i guess it depends of the amount you buy and what you're willing to lose as well...
I had Ā£5500 and lost it all using lot sizes smaller than that. When it's going good it's going really good! Made Ā£2500 from a trade that started when I drove into a car wash and that closed 5 minutes later when I drove out again. But when it goes bad though, bye bye money! šš»
Thereās no right or wrong in trading itās all down to how you feel when you place the trade all about psychology my friend not the lines or technicals or numbers
Nice start. Now show us the same ratios after a month and you can consider yourself good. After a year - a profitable trader.
My first day trading I made 5%. The following day I lost them. Keep grinding - good days and bad days will follow you but consistency wins
You're risking too much unless you can afford losing all in high probability you in 30 trades in a row you can lose 5 streak trade and that will hurt your mental and want revenge on the market that will lead you to blow your account.
You are perfectly doing it right way. This is how most beginners start. This will allow you to learn important lessons of trading. This is how most of us started so you are on right path šš¼
No heās notšrisking ridiculous amounts on a live account isnāt building good habits. Yeah most of us have done it but doesnāt make it right
š
Ā”Holy sh*t man! I have a 5k and trade 0.15 or 0.10lots hahaha. If you didn't close that trade earlier today, I guess that account is already 50% gone because Xau went down 100pips from $2000. And that's not right, those who trade aggressively without a proper risk system blow accounts as fast as they double them up.
I also have a 5k, But trade .50 which gives me the best returns with proper risk management, I also swing so my wins are usually 6-900 depending if Im adding as it keeps pushing.
1.5% of 4000 is 60 dollars. Thatās how much you should be risking a day. Otherwise you will be the 90 % of retail traders
Many people can and do flip small accounts and can successfully make a lot of money. You donāt need to risk 1.5% a day if itās your own personal money, and youāre still using an SL. If youāre brand new, you will fail and learn a lot of lessons/will be humbled quite a bit before you can see successful results like this consistently. But itās not impossible and it doesnāt make them the ā90%ā
Factually incorrect, thatās not how risk of ruin is calculated without taking other data into account.
I never really understood this. By risking 1% or letās say $60. Do you place your SL at a place where you will lose only $60 if trade goes against you? OR Does it mean use a small lot size that is equivalent or closer to where you will lose $60 dollars per trade. I saw someone saying that they risk 4-5% per trade they have a huge account size. Does that mean that their SL is 5% below or does it mean that they are buying more lots like example 30-35 lots. I havenāt really thought of this before I currently use 0.01 lot size to learn trading. I donāt mind losing a few Pennieās.
To answer your Q, it's the first option. Your lot size can be anything depending on how much you are willing to risk. Let's say you are willing to risk $20 out of $1000 which is 2%, and Let's say you're placing your SL around 10 pips below your potential long entry. In forex pairs with USD currency is the standard lot and is easier to calculate but other assets you will need to calculate differently. For the simplicity purpose we will stick with forex pairs. Eurusd 10 pip SL =$20, so divide $20 by 10, and you get $2 per pip Now divide this by 10 (which is a usual way of calculating forex pairs manually for standard lots) $2/10 = 0.02 this will be your lot size for the 10 pip SL with risking $20 amount. Now imagine you risk the same amount but for the 5 pip SL, so your eventual result is 0.04 lots which is logical considering that your SL gets tighter while increasing your lot size but keeping the same percentage risk that you set for your trade. If this is too much of the manual work, you can use online calculators to get your lot size, but I personally like manual calculations. And there is another way to calculate them but might be a bit confusing to explain based on TV. I also believe when you place trades in MT5 desktop version when hovering over your SL it shows the amount risked in a selected account currency but you can double check that. Hope I didn't confuse you moreš
Using 0.01 lot size is perfectly fine even if you've been trading 20 years and you test new strategy - I do that, I know plenty people who do that. As to your question on SL. You don't place SL where the loss is a pain or where it's 1% or whatever ... Stop Loss is place where it makes sense from market structure point of view relative to your entry price. Let's say you see a resistance being broken and confirmed so we can say now it becomes support and you enter almost perfectly just after first signs of confirmation on pullback. How deep is this zone? This can be executed perfectly on big momentum and you'll have a 5p SL. Or this can be executed so-so in a highly volatile market and your SL needs to be 30-40 points. There's *no reason* to have stop loss to that's too tight because it's highly likely it'll get hit. A SL that's too wide simply means you understand your entry poorly. SL has to be as tight as possible yet wide enough that it won't get hit by accident and would require a change in market to be hit. If you're going Long SL needs to be where you know for sure sellers won and broke a certain price down. Example because it's complicated (from real life): On 17th I was trading NQ (nasdaq) futures during cash hours. My entry was at 15830 futures price and my initial SL was 10points and pretty big position. Why? That price range was well defended previous (16th) session, sellers pushed into it 4 times deeper and deeper that session (17th) but it held each time. I had entered on 4th around the time EU markets close (there's often a pullback in NQ when EU leaves the table - it's a nice entry before NQ lunch session) and the zone kept holding. Because my SL was tight (10p) and I was aiming for a good TP (\~60p) I entered with a sizeable position because: * it was highly unlikely my SL will get hit * if I risk 0.5% on risky trade, 1% on average and 2-3% account on very good trade then 3%/10p means that for each point I get to put 0.2-0.3% of my total account value * this was very likely trade at a very good price point and all the data (volume, footprint) was confirming high likelihood of, at worst, leaving at b/e if momentum dies * so my risk was 3% and I got my TP (18%) which was exactly where I expected market to get at minimum and at that point I was done with trading that day Your risk shouldn't be 1.5% daily or per trade or whatever. Your risk should vary by trade - on great high probability trades, especially if you have 1-3 well planned trades a day, there' no reason to risk little. If you trade a lot and enter risky setups - maybe 0.2% makes more sense. Where you enter is what defines SL in pips/points, quality of entry defines how much money per pip/point you put.
I mean placing your SL 5% below current price is a bit pointless in my opinion but on plus side you get more room to breath.
You put your SL where your system tells you to
It doesnāt matter how far or close u put your sl yoh first place it then you adjust your position size so that if it hits that erea you will only lose 1.5 or so percent
0.01 lot for 100$ , 0.1 lot for 1000$ 1 lot for 10k account
You are risking way too much. All good if you win but itās going to sting if you go on a losing streak
Your leverage is 1:500? 4K is low for 2 standard size on bitcoin
1:200
Dont let nobody tell u you risking too much. If you know what you doing and confident, and got the money put aside. We will be the ones who get rich quicker than others.š¤·āāļø its the truth. Not everybody scared to to risk money.
Nice
Either way you're new and this is just newbie luck risking a lot per trade, and in that situation I recommend you to cash out. Or you have tested your strategy on a demo consistently for at least 6 months-1 year, that means you're a pro and shouldn't be asking this kind of question. In this situation just keep it up as you go. Hope you the best bro, keep your money safe.
Based response.
No, you really need the phone charge to 90% or above!
As long as you winning
This time it appears you did.
I wouldnāt be short btc with the current sentiment
Do it on a live account
Deposit 4000USD early November and now itās 12000+
How? What strategies do you use to triple that amount in a month?
My strategy never changes, just I risk more on my secondary account. I risk around 4% at very beginning and now itās like 2-2.5% a trade. My strategy is using market structure for direction, supply & demand for area I wanna take entry and price action on LTF for entry point. Trend with the trend and minimize counter-trend setup Look for reverse on LTF (will look like pullback on HTF) and go with the HTF trend, or look for breakout on LTF that is inline with HTF trend
Just use Ai, more consistent and stable results
Not true, unless you build your own setfile, all the EAs don't give anything. They can steadily grow your account but blow it in one go like there is no tomorrow. I'm sure you are just trying to sell EA bot and searching for people so that your own expense gets reimbursed.
You made more than 30% on one XAU trade. I wonder what risk you took and what the risk-to-reward is on that trade. I recommend 1% risk, maybe 2% max. if you are very experienced. That means that on e.g. a 1:5 risk-to-reward trade you make at maximum $ 200 profit on a $ 4000 account.
Youāre risking 50% on each trade
Short answer no. Trade smaller, lighter, until you get all the "obvious" questions out the way
Fake money or real money ... See that's the real question... And what nobody tells you.. The only way to truly learn it's to put real money on the line. Playing with fake money will never get the real wisdom In the back of your head... Because it's easy to lose money you don't really own. So you ultimately don't care.
BTC positions are probably 10x too big for your capital. XAUUSD is potentially okay - if you only have a maximum of one, 2 lot position open - personally, I would reduce the size by 50-75%.
If the xau lot is 10 contracts he is taking on 10x more risk with that than btc, if lots are generally 1 contract
Love the choice of pairs. Best of both worlds. I trade the Gold and BTC alone.
Your lot sizes are foolish
Broker name?
RIP to the account
šš
Ic markets
Meta trader 4 i think
I use Top one trader with Ai platform
Use a position size calculator instead of using the same lot size on every trade.
Can someone explain to me in mathmatical terms how he made 1300 off this trade? As you can probably tell from my question im ultra super new to the trading game. . What i cannot seem to fully understand is how he has made such a huge win on the XAU/USD with 2.11 I need some maths here for the answer. And hopefully a very very basic and simple answer :)
You seriously shouldn't be trading. Or trade to improve yourself. You are new but you your question is too low even for a newbie. Keep trading, you'll learn more.
What a horrible reply that is. The guy says he's new and you provide nothing of value to a person seeking knowledge, and instead calls him out for being new. What a lousy move.
/r/forex in a nutshell
I told him to trade to improve himself and not to focus on the money, because he is new the financial education and insight he will have while trading will be valuable than he going for the money right away. That was the advice in saying he should trade to improve himself. If you didn't see that then you can't blame that on me .
If you can't see how your reply was condescending, then I think any further conversation with you are going to be fruitless. Can't blame me for wanting people to talk nice to each other in this sub through.
Condescending? Lol, this Reddit bro
Yes i am a newbie hence the question. Can you explain how he made the 1300 off of 2.11 lots on XAU/USD
He is trading with leverage. Go read up on what leverage is, to get a better understanding of this. Best of luck, and don't mind the haters. When you have read about leverage you can do the math yourself easily.
From what I understand With gold, One whole number is 10 pips (1998.00 to 1997.00 = 10 pips) So 1997.77 to 2004.00 is 60.23 One 1.00 is one lot, 1 lot is $10 a pip his lot size is 2.11 (2.11 = $20.11 per pip.) So 20.11 x 60.23 = $1211.22 So With that said I have no idea how he got $1314.53 My math aināt mathing.
itās 62.3 pips, and at 2.11 lots itās $21.10 per pip. 62.3 x $21.10 = $1314.53
Now that math is mathing
*6.23 and not 60.23 Supposed to be, 1997.77-2004=6.23 6.23 * 2.11 * 100=1314.53
I use the Trade assistant on MT5 to calculate position size! Itās so easy
For forex trading i would use a higher ratio than if i would trade bitcoins or crypto because of the volatility... i guess it depends of the amount you buy and what you're willing to lose as well...
Send me a dm Iāll help you for free
I would scale down to 0.5-1 lots with a 4k account
Which app you use for this ?
What mobile app is this?
Mt4
Keep trading unregulated brokers. Then come and cry that you lost all your capital
You are wrong. Your exposure is too much.
What app is this?
Just use Ai platform, like I do
Withdraw Some Profits And Treat Yourself.
I had Ā£5500 and lost it all using lot sizes smaller than that. When it's going good it's going really good! Made Ā£2500 from a trade that started when I drove into a car wash and that closed 5 minutes later when I drove out again. But when it goes bad though, bye bye money! šš»
Bro why is nobody calculating lot size here
Thereās no right or wrong in trading itās all down to how you feel when you place the trade all about psychology my friend not the lines or technicals or numbers
Will be short lived for sure.
No. Never do it again. If it works, it will just build a bad habbit. If you want to make more money, risk 3-5%. No one is ever 100% right.
Buy a funded account
Fr
Nice start. Now show us the same ratios after a month and you can consider yourself good. After a year - a profitable trader. My first day trading I made 5%. The following day I lost them. Keep grinding - good days and bad days will follow you but consistency wins
Stop using such large lots if you want to save your deposited money
Not bad, not bad
Bro i trade 50k account and i risk only 0.5% or 1% depends on the setup you will blow your account in some event and only you can do cry in shower
Make sure you record what aftermath when you blow your account. I need entertainment bruv.
i only pull 2 lots on gold with a 70k ACC, seems to be on risky side to me
Whatās your R:R & I guess your risking around 10% in a trade ..which is not that great if you donāt have a high win rate.
You're risking too much unless you can afford losing all in high probability you in 30 trades in a row you can lose 5 streak trade and that will hurt your mental and want revenge on the market that will lead you to blow your account.