Not Enough Money

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Shatta1
11
Shatta1  

Hello Guys 

Please am new to this trading 

I opened a demo account with 100$ and 1:10 leverage but anytime open 2 positions am unable to open a 3rd position

I see "not enough money error" I don't understand please help an amateur

Keith Watford
Moderator
14027
Keith Watford  
Shatta1:

Hello Guys 

Please am new to this trading 

I opened a demo account with 100$ and 1:10 leverage but anytime open 2 positions am unable to open a 3rd position

I see "not enough money error" I don't understand please help an amateur

a $100 account with 10:1 leverage will only allow you to open positions totalling $1000. Look at the amount of free margin that you have before trying to open additional trades.

Arthur Albano
265
Arthur Albano  
Keith Watford:

a $100 account with 10:1 leverage will only allow you to open positions totalling $1000. Look at the amount of free margin that you have before trying to open additional trades.

There is more. Some brokers do not execute stop-loss of take-profit due to margin being calculated twice. In this case, you have to manually close all positions. Just hit the close button at Metatrader 5. If this does not work, go straight to your brokers online website and open the home broker platform. There you should find a "close all positions" button somewhere.

It is never recommended to use leverage if you are a newbie. Very few experts do it. You will loose all your money. Try using your broker's demo account in Metatrader. Ask them if they have one and how to set up it.

Keith Watford
Moderator
14027
Keith Watford  
Arthur Albano:

There is more. Some brokers do not execute stop-loss of take-profit due to margin being calculated twice. In this case, you have to manually close all positions. Just hit the close button at Metatrader 5. If this does not work, go straight to your brokers online website and open the home broker platform. There you should find a "close all positions" button somewhere.

It is never recommended to use leverage if you are a newbie. Very few experts do it. You will loose all your money. Try using your broker's demo account in Metatrader. Ask them if they have one and how to set up it.

What are you talking about? Why would they not close trades when SL ot TP are hit due to margin??

It is never recommended to use leverage

It is not a good idea to trade with too high leverage, but no leverage????? Most people would never trade. I don't even know if brokers offer accounts with no leverage.

CrisZind
445
CrisZind  
Keith Watford:

What are you talking about? Why would they not close trades when SL ot TP are hit due to margin??

It is never recommended to use leverage

It is not a good idea to trade with too high leverage, but no leverage????? Most people would never trade. I don't even know if brokers offer accounts with no leverage.

Welcome to the new ESMA rules

max leverage is 30:1 so try a demo with 1000$ and check if this works for what you are doing

Keith Watford
Moderator
14027
Keith Watford  
Keith Watford:

What are you talking about? Why would they not close trades when SL ot TP are hit due to margin??

It is never recommended to use leverage

It is not a good idea to trade with too high leverage, but no leverage????? Most people would never trade. I don't even Know if brokers offer accounts with no leverage.

CrisZind:

Welcome to the new ESMA rules

max leverage is 30:1 so try a demo with 1000$ and check if this works for what you are doing

What is your point? 30:1 leverage is not the same as zero leverage and yes, I am quite comfortable with 30:1

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