There was a post today on the EU thread, talking about how microlots are inconsequential.
I disagree. I trade microlots, slowly working my way up to bigger sized orders. They are educational and practical for those starting with smaller accounts. I take my orders as seriously as if they were full lots, Here's how I hope to transition to larger sizes:
--I risk 1% of my account
--I changed the profit displayed on my MT4 from a cash value to a pip value, so I get used to reacting to that, instead of a monetary (emotional) amount
--I only allow a set number of orders open
--I know exactly where (total account size) I can increase my lot size to the next increment.
Of course I am not able to live on this, but I figure it is a reasonable, rational way to get me there as I continue to learn.
Anything I'm missing?
Have you transitioned from smaller lots to larger lots? What worked for you?
I disagree. I trade microlots, slowly working my way up to bigger sized orders. They are educational and practical for those starting with smaller accounts. I take my orders as seriously as if they were full lots, Here's how I hope to transition to larger sizes:
--I risk 1% of my account
--I changed the profit displayed on my MT4 from a cash value to a pip value, so I get used to reacting to that, instead of a monetary (emotional) amount
--I only allow a set number of orders open
--I know exactly where (total account size) I can increase my lot size to the next increment.
Of course I am not able to live on this, but I figure it is a reasonable, rational way to get me there as I continue to learn.
Anything I'm missing?
Have you transitioned from smaller lots to larger lots? What worked for you?