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Leverage in crypto v Leverage in Forex
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[QUOTE="Victorial, post: 202183, member: 56532"] As a forex trader or a crypto trader, leverage should not be a new term. This can also be called lot size. Leverage is the use of borrowed funds to increase one's trading position and that has a direct effect on your profits and losses. Hence, a good teaser knows a lot of sizes to use that will make him more comfortable with avoiding losses. People use different lot sizes according to their capital as the capital mostly determines which leverage to use. In forex trading, the minimum lot size is 0.01 and that is used to multiply the movement of pips away from your entry position. I am more comfortable with 0.01 as it gives me the confidence that my account is still safe but I add a stop loss to avoid huge losses. In crypto, I do not know the minimum lot size and I am curious to know. While trading on Stormgain, the minimum leverage was 5 and I can't help but wonder that it is high. How can I use 5 lot size in forex trading without burning my account? In fact, the broker will not allow the trade to open. So I want to know how both are related. Does 5 In crypto mean 0.05 in forex or less? [/QUOTE]
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