Analyst
This is another important element a trader should know, not only the definition but its use in a trading strategy. Volume is the amount of money a trader intends to use when entering a trade. It is imperative to open a trade with the correct amount. If the amount is too large and multiplied by the leverage, this may result in a loss that could wipe the account. Let us examine the previous example. You have 1000 Euro to invest in your trading account. You then decide to enter a trade with a full balance of 1000 Euro, adding the 1:100 leverage given by the brokerage house, you will essentially be in the market with 100.000 Euro. The price of EURUSD is 1.1100, therefore you sell your Euros to buy US Dollars, with the assumption of making a gain. Instead the price increases to 1.1150. In this case you would incur a loss of 500 dollars. This amount is 50% of your entire balance. In this scenario, even though the profit could be 50%, the loss could also be 50%. Unless you are equipped to take high risks, you should re-adjust your trading amount and pursue smaller investments such as 500 Euro, 200 Euro or even 100 Euro. With these volume levels the profits may be smaller as well as the losses in case of poor decision making. In Forex industry has few brokerage houses offering the flexibility to trade specific amounts, such as 120 Euro or 1540 US Dollars or 3450 British Pounds. Forex traders use a definitive term considered to be a standard volume. This standard volume is called LOT. One LOT has a nominal value of 100.000 units from the first currency of the pair. 1 Lot of EURUSD = 100.000 EURO 1 Lot of USDJPY = 100.000 USD, more examples follow. When entering positions, most Forex traders prefer to select their volume using the following measuring unit. It is not mandatory to constantly trade 1 lot. A trader can choose from micro lots to tens of lots. The following scale should provide more clarity: Micro Lot Mini Lot Lot 0.01 Lots 0.1 Lots 1 1000 10.000 100.000 2 Lots 5 Lots 10 Lots 200.000 500.000 1.000.000 10 Micro Lots = 1 Mini Lot 10 Mini Lots = 1 Lot Nowadays brokerage houses offer traders the opportunity to open trades with values varying from one micro lot to 50 or 100 lots. These examples apply only for Forex trading. Other markets like commodities and indices have a different way of calculating the nominal value of a 1 lot.
When I joined the Rally family, I had zero knowledge about forex. I attended their seminars and lectures and it was a thorough and quality experience. Talking about my success in forex , it’s a steady process , I’ve enjoyed lots of profits and a few losses. I’m grateful for the rally trade foundation I have, I look to grow from under the wings of Rally.
Kobi
I was told I could make money in my comfort zone, then I thought; “this could actually happen in my dreams”. But guess what, I made money and I’m still making money in my comfort zone with RALLY TRADE. To my account manager OLUWASEUN: thank you for keeping to your words and for being nice at the same time, thank you for having my back, you’re the best.To RALLYTRADE: thank you for this opportunity and for letting me know I could do more and better with myself..
Ebere Uzodinma
I am so much impressed not by anybody's action or motivation to pronounce my encounter with rally trade company. I would love to say this company has done so much in my life; personally. I listen to a radio station programme about a seminar/training on how to trade forex, I planned to attend though I don't believe it will work for me. After the training I got a call from one of Rally trade staff, in person of Tamuno who done so much to convince me to go in for the trade. This young girl have been so impacting since I stated the trade and she has never for once ignore my request for support and advice; I so much appreciate you...
Oluwatuyi Timileyin Samuel
THANK YOU, THANK YOU, THANK YOU Rally trade team for the excellent work you are doing. I recommend rally trade for anyone who want to profitably trade Forex on a consistent basis.
Oluwaseun Kayode
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Adefuwa Ayodele