newbie!, how much would you put on a position

Hi there,
i'm a beginner so pardon the dumb question. I need advice on how much should you put on a positon (one order). Suppose i have an account with $1000, how much should i risk on one position.

And along with that, how much should i left open. Suppose i have 5 open position, how much (in %) should i risk?.

thanks
Recruit papadevon

 

That's actually a very good question.

You need to select your own risk tolerance. This article should help with that:

http://www.forexpeacearmy.com/forex...2272-how-manage-risk-while-forex-trading.html

 

Assuming you've a grand, I think that opening a 10k position shall suffice.

Regards.

 

Depends what your trading style is & whereabouts in your trading cycle you are. You could try going crazy and go all casino & (as far as your account allows) double up after each loss; ie you can loss xx in a row but as long as you hit 1 of your orders you'll be back to even, until such time as you hit a winner the first time in which case you'd be up.

Or also on what the pair you're looking to place a position is, is doing. If its near a very long term high or low you'd probably want to use a little more leverage than you normally would (high you'd short, low you'd go long).

However I suspect everyone's different & you'll get a quite different slant from whoever posts next, so its something you'll really have to work out for yourself.