Experience 19
Learn the Mega and Implement the Mini
This is also for newbies.
Every new traders are searching, learning, testing any trading methods and strategies.
Before using the real money for the strategy, we should do paper trading.
After getting profit in paper trading, they are coming to market with real money. but they are doing the important mistake here.
In paper trading, they are trading with mini lots, but in real trading, they are trading with mega lots. If they get nervous with their strategy in the beginning stage of the real trading, they make huge losses due to Mega Lots.
So My kind opinion to newbies is,
Learn the mega lots in paper trading. because if there is any loss in paper trading, you will change and modify your trading method due to big loss in paper trading. but if you learn with mini lots in paper trading, you will not concentrate on strategy. So Always trading with Mega lots and More lot sizes in Paper Trading. Calculate the profit and loss.
If you satisfy with paper trading, come to the real trading. and trade with mini lots for some months until you are perfectly satisfy with your strategy. if you are not satisfied, you can immediately exit due to small losses in Mini Lots.
So, this is always better for newbies to follow, Learn with Mega Lots and Trade with Mini Lots.
I followed this method in the beginning life of the trading career. So it helped me to learn the market well in real trading with mini lots. As i am experienced now with my strategy, currently i increased my lot sizes heavily.....it works for me....this is one of the experiences from me.