18. Lots, pips and risk management: The importance of choosing the right trade size
Let’s Talk Forex with Alison and Chris
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Show Notes
Many traders don’t realise or appreciate the importance of correctly sizing their trade, but it can greatly affect performance. In this episode we explain how you can determine your trade size using lots, and setting your stop-losses to reduce your risk.
Click here for a chart comparing lot sizes
For more advice on how to place your first trade, including detail on how to calculate pip value when your account currency and quote currency are different, click here.
FxScouts DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.