Forex trader looking to start trading Crytpo as well (help with brokers and lot sizes?)
Hey there -- I'm no stranger to trading. I trade Forex and Futures. I'm also not a complete newb to cryptocurrency in general, but I am when it comes to actively trading it. To me, it just seems like Forex but with crypto and I'd really like to start building up my crypto holdings by "trading up" my account rather than solely just converting cash into crypto over time. What is confusing me a little bit is lot sizing, leverage, and the right brokers to use. I was eyeing CryptoAltum if anybody has experience with that? Although I'd prefer something I can trade with Tradingview (my preferred charting / execution platform). Aslo -- lot sizing. With Forex it's pretty simple... 1,000 = micro-lot (approx. 10 cents per pip value on majors) 10,000 = mini-lot (approx $1 per pip value on majors) 100,000 = standard lot (approx $10 per pip value on majors). But how is lot sizing determined with Crypto pairs? I'm interested in trading crypto-against-crypto (for example LTC/BTC). Is there an online calculator somewhere where I can easily determine the value per pip (or "tick"?) based on leverage and lot size? Sorry if this has been answered a bazillion times.
Determining Lot size when buying XRPUSD with a forex broker (vantage FX)
Hello I would like to invest in ripple on the long term with my forex broker but I have problem calculating lot size compared to other fx pairs as the lot size I would normally place on a trade doesn’t seem to be right. Any tips on how to calculate lot size for cryptos will be appreciated!
My broker is Hugosway offering a max of 1:500 leverage, my question when it comes to trading crypto can I use bigger lot sizes with smaller pip count to get good profits without setting a SL? For example BTCUSD has been very bullish yet volatile, doing my research I hypothesize that BTC with reach X amount can I just set a bigger lot size with a smaller TP pip range and no SL.
It is the regular lot size in the Forex trading marketplace, where traders can trade with 1000 units in the micro lot and 10,000 units in the mini lot. In the standard lot, traders can trade with 100,000 units of the base currency. Forex is commonly traded in specific amounts called lots, or basically the number of currency units you will buy or sell.. The standard size for a lot is 100,000 units of currency, and now, there are also mini, micro, and nano lot sizes that are 10,000, 1,000, and 100 units. Your position size is determined by the number of lots and the size and type of lot you buy or sell in a trade: A micro lot is 1,000 units of a currency. A mini lot is 10,000 units. A standard lot is 100,000 units. Your risk is broken down into two parts—trade risk and account risk. In the context of forex trading, a lot refers to a batch of currency the trader controls. The lot size is variable. Typical designations for lot size include standard lots, mini lots, and micro lots. It is important to note that the lot size directly impacts and indicates the amount of risk you're taking. How much is 1 lot in forex. 1 lot in forex is 100,000 units of currency. The value of the pip for 1 lot is roughly $10 based on the EUR/USD. Traders who trade in lot sizes are usually experienced and comfortable with the risk associated with it.
WHEN TO TRADE BIG LOT SIZES IN FOREX - FOREX Q&A In this video, TGP Leader, Joe Giunta is doing a Q&A with master trader and educator, Curtis Branch. The top... Welcome to video #5 of Forex Trading for Beginners - what is a Forex lot size. This is a free (step by step) trading course that teaches you the essentials o... This video will explain in detail THE SIMPLE WAY to convert Lot Sizes, how Risk vs. Reward works, and also how to count Pips. These are the fundamentals of t... Free calculator: https://www.babypips.com/tools/position-size-calculator #forex #forexlifestyle #forextrader Want to join the A1 Trading Community? Follow al... A pip is a unit of measurement in the forex market and a lot size is the trading volume you pick to trade with. PIPS X LOTS = PROFIT/LOSS THE OBJECTIVE WITH ...