Yet another FOREX question from me When it comes to account leverage, can one determine the leverage they want on each individual trade, or are FOREX account set up such that every trade has to have the same fixed leverage? For example... can I say I want trade #1 to be 20:1 and trade #2 to be 50:1 ? Thanks!
Thanks Electricsavant! So I should set up the account parameters with max leverage, but I can set varying leverages per each trade... correct? Thanks!
Well, I cannot speak for your platform, but most of them work this way. Usually you have a trade ticket in which you set your number of units...(this is regardless of your max leverage paremeters, except when you exceed them) mini-lot=10k units lot= 100k units except for MB trading....a lot is 10k units sometimes, its according to where you are reading...sadly terms and known "language" is distorted in the "Wild West of Forex". Sometimes I feel like a bunch of European premadonna's got together without knowing what they were doing, and put together Forex.
Ah yes... I see now. Generally speaking, I would dictate the leverage via my lot size parameters... simple enough Thanks!
Yes..your platform has your MAX leverage settings and will kick back the trade ticket to you unexecuted if you exceed it. There are various methods that the retail platforms report this to you... Its not like you set the leverage and create a suggested trade ticket from that...that would be backwards. Michael B. P.S. If you like to track your "OPEN LEVERAGE" make an Excel spreadsheet up to put in your POSITION VALUE and divide that with your BALANCE.
so bootzie...how is traders studio going for you...have you had any sleep this weekend yet You are moving along with leaps and bounds since you started this thread. Michael B.