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I'm using the oanda trader (demonstration ) with 100k as the starting balence. I have my system but I want to be certain that I am working the money direction. Im hoping to only use 6 percent of my balence on every trade. With prevent losses of course. My question is really for the Oanda Pro's in here. Each trade Im multilying by 6 percent and taking the components. Example 2,000,000 units * 6% = 120,000 units. This appears to be operating. Am I on the ideal path with this? Or is there another solution to receive my calculation.
The best first step is to place your maximum leverage to be 1:25. I know the broker is offering you around 1:500, discount that and follow what I am telling you.