Forex Position Sizing
|September 19th, 2014, 06:33 PM||#11 (permalink)|
Banned: Stated cancel membership
Eugene, Or. USA
Futures Experience: Intermediate
Favorite Futures: ES
Posts: 18 since Sep 2014
Thanks: 1 given, 9 received
FX position sizing.
I know I'm a little late to the party but hey I'm new here.....
If you trade with Oanda you can go into user preferences and preset everything.
SLs...... TPs....... and % of balance you would like to trade.
The nice thing about that is that Oanda's order entry calculates everything for you. So as your account grows your position size grows with it, you don't have to do anything except trade.
The other nice thing about Oanda is you trade in units instead of lots,100,000 units.... mini lots 10,000 units,..... or micro lots 1,000 units.
So if 2% of your account balance calls for a position size of 100,327 units that is what your size will be. You won't have to round down to a single lot of 100,000.
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