If you are new to Forex, the ideal start would be to use 1:10 leverage. This would be more reasonable, since using a higher leverage might be dangerous.
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What leverage should be good for a newbie to use?
- Thread starter Coner1980
- Start date
choosing the right leverage will depend on your budget but generally, i don't suggest high leverage for beginners, 1:100 or less will be ideal if you are still learning.
Exactly, one needs to be balanced with using leverage in the market especially for newbies. When I saw that Forexchief offered 1:1000 max leverage I was tempted, but a friend advised I be careful and should maybe look for other means to top up my funds. Fortunately they had trading credits with zero interests for clients, that came in handy.choosing the right leverage will depend on your budget but generally, i don't suggest high leverage for beginners, 1:100 or less will be ideal if you are still learning.
You can opt for high leverage that's not a problem it just will lock less margin on your position, however given same lot size and stop loss, the amount you risk is the same for 1:30 and 1:1000 leverage. However if you hold positions overnight, then rollover costs will be higher, this is the only difference I see.
when using high leverage make sure good trading plan , otherwise the result of trading could be more dangerous.
its all about same issue to avoid unfortunate risk and losses . nothing without it.