what leverage too choose ?

lukx · #1 12-25-2008, 05:08 AM

So far I was using 1:200 on FXDD. From January I will trade also with FXPRO and I'm not sure if I should also use 1:200 or maybe it is worth to take 1:500 . What are your opinions on this one?
I think that with 1:500 I will have option to risk more but also gain more. So if I want to play safe I could still play 0.1 lots and if I want risk more I will be able to go much higher than that with 1:500 compared to 1:200 right?
The thing is that now with this new FAPT license policy I have only one shot so I need to setup one new account with correct settings becasue after changing leverage I will also need to go through hassle of contacting FAP support waiting a lot of days for them to change it etc etc. So I want to do everything right form the start.

mystikdragon7 · #2 12-25-2008, 09:59 AM

Quote:

Originally Posted by lukx

So far I was using 1:200 on FXDD. From January I will trade also with FXPRO and I'm not sure if I should also use 1:200 or maybe it is worth to take 1:500 . What are your opinions on this one?
I think that with 1:500 I will have option to risk more but also gain more. So if I want to play safe I could still play 0.1 lots and if I want risk more I will be able to go much higher than that with 1:500 compared to 1:200 right?
The thing is that now with this new FAPT license policy I have only one shot so I need to setup one new account with correct settings becasue after changing leverage I will also need to go through hassle of contacting fap support waiting a lot of days for them to change it etc etc. So I want to do everything right form the start.

Well how has FAPS been performing for you with the 1:200 leverage? If it's been performing great for you then IMHO why not go for the higher leverage. That's just something I would do, I am a bit of a big risk taker.

lukx · #3 12-25-2008, 03:02 PM

Quote:

Originally Posted by mystikdragon7

Well how has FAPS been performing for you with the 1:200 leverage? If it's been performing great for you then IMHO why not go for the higher leverage. That's just something I would do, I am a bit of a big risk taker.

mystikdragon7 this is exactly what I was thinking

it's performing fantastic on 1:200. I did some backtesting on 1:500 and my jaw simply droped

but what I'm concerened is that with new license I will have only one chance to setup account. Basically I want to ask you old forex dogs

if I still can trade safe even with 1:500 leverage or it's totally impossible.

mgs1f · #4 12-26-2008, 05:28 AM

Quote:

Originally Posted by lukx

mystikdragon7 this is exactly what I was thinking

it's performing fantastic on 1:200. I did some backtesting on 1:500 and my jaw simply droped

but what I'm concerened is that with new license I will have only one chance to setup account. Basically I want to ask you old forex dogs

if I still can trade safe even with 1:500 leverage or it's totally impossible.

I am and its great on fxpro only remember when you have a draw down its the reverse.

mystikdragon7 · #5 01-04-2009, 09:40 PM

So lukx did you go for 1:500?

lukx · #6 01-05-2009, 12:18 AM

yes I did

. but so far no trades because of ugly spreads.

mystikdragon7 · #7 01-05-2009, 05:35 PM

Quote:

Originally Posted by lukx

yes I did

. but so far no trades because of ugly spreads.

It'll get better this next week don't worry.

lukx · #8 01-05-2009, 11:12 PM

well becasue of tonight eur/chf very bad FAPT trades my account was wiped

alan · #9 01-06-2009, 03:02 AM

sorry to hear that but seriously though that should not have happend...you must've been using excessively risky settings...500:1 is not recommended and too large a LRR is also not recommnded...be prudent and not greedy..it's the long term key to forex success.

lukx · #10 01-06-2009, 03:23 AM

you're totaly right Alan I was greedy I admit. I hope I will learn one day. Anyway I hope trading forex is still worth trading as another income source. So far for me (newbe) it's almoust equal to all other gambling games. It harder and harder for me to see how you can come on top at the end without just basically beeing lucky. I'm reading, learning, watching those charts, systems, indicator and still it very often fails.