before i go live!!!!

[bob32]

hi everyone, im about to go live for the first time with a micro account with alpari! my deposit will be £500 gbp. i really really want this to work and think i am ready for the big plunge. my question is about settings on the guide you get with forex autopilot it says for small deposits you should set your settings like this.... lots=0.1 max orders=1 max lots=0.1 and stop loss must be 0. but i have seen some other settings on this forum like lots 0.0 and then lrr set to 1 or 2 and let ea determine the lot size? which should i go for i really dont want to blow my account!!!
please please advise....

[moneydream]

hi everyone, im about to go live for the first time with a micro account with alpari! my deposit will be £500 gbp. i really really want this to work and think i am ready for the big plunge. my question is about settings on the guide you get with forex autopilot it says for small deposits you should set your settings like this.... lots=0.1 max orders=1 max lots=0.1 and stop loss must be 0. but i have seen some other settings on this forum like lots 0.0 and then lrr set to 1 or 2 and let ea determine the lot size? which should i go for i really dont want to blow my account!!!
please please advise....

Well it is safe to use 0.1 as that is the minimum lot size could be set in FAPS. :)

[dynamo]

hi everyone, im about to go live for the first time with a micro account with alpari! my deposit will be £500 gbp. i really really want this to work and think i am ready for the big plunge. my question is about settings on the guide you get with forex autopilot it says for small deposits you should set your settings like this.... lots=0.1 max orders=1 max lots=0.1 and stop loss must be 0. but i have seen some other settings on this forum like lots 0.0 and then lrr set to 1 or 2 and let ea determine the lot size? which should i go for i really dont want to blow my account!!!
please please advise....

With £500 I would suggest that 0.1 lot size will be too large, unless you only want one trade open at a time. As you have a micro account with alpari I would think that you would be better off utilising the money management. As you say above, you can set the lots to 0 and LRR to 1. I use 1.5 if i am confident, 1 if i am just letting the EA run. One of the problems you will face with Alpari UK is that they give you a 500:1 leverage on micro accounts, so even if the lot size seems small, your profits and losses will be much magnified. If I were you I would start with an LRR of 1, and then increase it as you see fit. You will probably start trading with lots of 0.03 or 0.04 based on that %.

[bob32]

With £500 I would suggest that 0.1 lot size will be too large, unless you only want one trade open at a time. As you have a micro account with alpari I would think that you would be better off utilising the money management. As you say above, you can set the lots to 0 and LRR to 1. I use 1.5 if i am confident, 1 if i am just letting the EA run. One of the problems you will face with Alpari UK is that they give you a 500:1 leverage on micro accounts, so even if the lot size seems small, your profits and losses will be much magnified. If I were you I would start with an LRR of 1, and then increase it as you see fit. You will probably start trading with lots of 0.03 or 0.04 based on that %.

yeah sounds like the right path to choose, thanks so much this forum has been a god send for information!!
just one last thing how about my take profit should i set it at 200.0 or maybe 100.0 what do you think?

[dynamo]

yeah sounds like the right path to choose, thanks so much this forum has been a god send for information!!
just one last thing how about my take profit should i set it at 200.0 or maybe 100.0 what do you think?

I run a profit of 125, but that is personal preference. Run your tests and find a level you are comfortable with. Most people on this forum have their own level, some through testing, some through lucky numbers, some through both.