lot size - page 2
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Each broker should provide a "lot calculator" on their website.
Check yours.
hi i would just like to know if 662 dollers can hold a lot size of 3.00
If I can suggest, regardless if the answer is yes or no (can be both, mainly depend on broker) - my suggestion is don't do it unless you don't mind to lose those 662 dollars very very fast.
If you trade like this the risk becomes so high (leverage is about 500) that it takes about 20 pips against you to lose those 662 dollars.
I would suggest you to trade 0.01 for this amount (specially if you are starting to trade as it is sound by your question).
The max can be 0.06.
I just traded 3 LOTS of EURUSD for 730$ but the price went to the opposite direction and i had a drawdown of 150$ so 730$+150$ =880$
Then price went back to its original direction and i made 135$
Also in my account i had more than the 880$ to evade the 80% Margin call that my broker puts
Long story short the answer is either no or yes depending on market direction/momentum/drawdown/and a lot of forex dependencies that is not useful to explain here since the answer contains at least 50% of the knowledge of how trading works so i hope i added a hands on useful information, the question is a bit wide i guess
If you found that you don't understand 2 things or more in this answer then you gotta read more about forex since the question itself will not give the full insight about how things work
thanks guys that helped alot
hi i would just like to know if 662 dollers can hold a lot size of 3.00
Mr Khumalo, one thing I can recommend and everyone know it, when you are about to enter a trade you got to know what you are doing and what are all the possible risk, Yes you can enter the market with a big lot size of 3 with a $ 662 as you wish, but make sure you know when to exit as soon as you spot the market has turn it direction, however if your trades has result into losses you just have to take it like a real man, if the market has change direction and your trade is still open and DD keep on increasing don't be greedy by hoping the market will turn in your favor any time. Undisciplined and greediness has lead people to blow their account. Different broker have different marginal call "Stop out", you should know how to calculate your money management, there are people who know how to analyse the market and finding the best price to enter the market in a way their DD will be less than 2% but those opportunity don't come every day or every time. Good luck with you experiment, try first on demo then you can try that on live account.
The $ 662 you are talking about could be a Demo/Live account, I hope ma say was useful.
8ta.