Some Questions for a newbie, if you please

dexterlikesAI

Recruit
Messages
4
Hello:

I´m from Portugal. I create an account months ago, but only in the past 2 months i start to study information about Forex.
I´ve been developing a model that looks quite promising. But i would like to get help in some questions, if you plase;

1) Is there anybody here from Portugal? If so, which broker do you use? Are they a Market Maker ?
2) Metatrader seems to block sometimes my laptop. So what are the alternatives? Is there other software? And which brokers allow their use?

3) A more technical question: I came from SportBetting. In Sporting Betting position size is fundamental. I´ve noticed that risk management with Forex is a lot based on stop loss order.
But i´m a believer in bankroll management, so i want to test all possibilities
An example: I have 2000 Euros. My model says to apply 8% of my bankroll. Would this be just a simple conversion to lot size?
Does it really make sense, since you are gonna apply a stop loss?

Thank you, Guys.
 

Pharaoh

Colonel
Messages
19,957
If you like MetaTrader, you may want to try a different broker (demo first). Also, make sure your laptop has enough free resources and a stable high speed connection.

If you want to try a different platfrom, cTrader is getting offered in more places than it used to be. There are a few other platforms used by multiple forex brokers, but cTrader is the only one I'm aware of that's gaining a significant multi-broker foothold (at least so far). You can find a list of brokers offering cTrader here...

https://www.forexpeacearmy.com/forex-reviews/ctrader-platform

The simplest thing to do is to figure out what percent of your account you want to risk on one trade (8% is very risky). Then, it's a matter of balancing pips of SL vs lot size of the trade. Assume the trade slams straight into your SL and the loss should be equal to or (preferably) less than the maximum amount of your cash you are willing to watch disappear if price decides this is not your day.
 
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