How much lot size can i open on gold with $200 account size

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500 leverage
 
Without breaking your account from 0.02 to 0.04 would be good.
However, you can open up to 1, maybe a little more.
 
Pablo Jaguanharo Carvalho Pinheiro #:
Without breaking your account from 0.02 to 0.04 would be good.
However, you can open up to 1, maybe a little more.
can you tell me the exact number and give me the formula?
 
Kwok Fung Chan:
500 leverage

I don't recommend more than 1 micro but it's all depending on your skill.

 
https://www.mql5.com/en/forum/384961#comment_26687286


https://www.mql5.com/en/forum/384960#comment_26687269

 
Dominik Christian Egert #:
https://www.mql5.com/en/forum/384961#comment_26687286


https://www.mql5.com/en/forum/384960#comment_26687269

its abit too difficult for me it would be nice to have the answer.
 
The formula:

margin = ((volume * contract size) / leverage) * account quote

account quote is the quote between margin currency of the asset (gold) and your account currency.

Edit:
Depending on the contract type, contract size can vary. I forgot to mention this, but it's important. The contract size can also be the contract value, which is then equivalent to the assets price in profit currency.
 
depends on the margin and terms of your broker. No one can tell you the result of that answer, you have to do the calculation yourself. Many brokers will only allow you to open 0.10 minimum trade for gold.
 
True, and additionally, the leverage might be different on a specific symbol, compared to the account leverage.

But all that can be seen in the symbols specifications. (Ctrl-U in the terminal)
 

"How much" is irrelevant if you want your account to survive. Control your risk.

Risk depends on your initial stop loss, lot size, and the value of the symbol. It does not depend on margin and leverage. No SL means you have infinite risk. Never risk more than a small percentage of your trading funds, certainly less than 2% per trade, 6% total.

  1. You place the stop where it needs to be — where the reason for the trade is no longer valid. E.g. trading a support bounce, the stop goes below the support.

  2. AccountBalance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the spread, and DeltaPerLot is usually around $10/PIP but it takes account of the exchange rates of the pair vs. your account currency.)

  3. Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency.
              MODE_TICKVALUE is not reliable on non-fx instruments with many brokers - MQL4 programming forum (2017)
              Is there an universal solution for Tick value? - Currency Pairs - General - MQL5 programming forum (2018)
              Lot value calculation off by a factor of 100 - MQL5 programming forum (2019)

  4. You must normalize lots properly and check against min and max.

  5. You must also check FreeMargin to avoid stop out

  6. For MT5, see 'Money Fixed Risk' - MQL5 Code Base (2017)

Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5 or 0.1 Lots maximum.

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