Beginner question

[InvictusRO]

Hello everyone,

I am fairly new to trading, I started the bot with 10 charts of only Forex assets for trading (Ex: EUR/USD) because i get errors with other assets like gold/silver/US500 (invalid stops / not enough money to trade) and I read it has something to do with MT5, is this a good idea what i`m doing? I`m using the Pro version without premium settings, I used the guide on the website for the Fast Settings. I would really appreciate any advice about this or if i should use different settings. Many thanks in advance !

 

[manipongol]

try reducing your lot size

 

[InvictusRO]

How much should i reduce it to? I invested 100 GBP and my lot size on all the assets is set to 0.01 as per the guide.

 

[Mas.CMDR]

Have you had any success?

 

[InvictusRO]

The answer was that i needed to invest more money as I didn’t had enough free margin available.

 

[Mas.CMDR]

The answer was that i needed to invest more money as I didn’t had enough free margin available.

I was told this morning that I don't have enough margin. What's the minimum amount I need? Is that because of Galileo FX or MetaTrader?

 

[shadow792]

I was told this morning that I don't have enough margin. What's the minimum amount I need? Is that because of Galileo FX or MetaTrader?

Metatrader. Or more specifically your broker. I had that happen twice before realizing what the issue was. Big currencies(i.E USDCHF) need more margin than smaller currencies(I.E USDJPY). I started using the percent risk setting instead of lot size and it fixed the issue.

 

[jondubrick]

Imo anything less than 1k in assets won't do much. You need assets to cover margin. 5k is ok. 10k is the sweet spot

 

[Joeboy]

Your account balance doesn't have the ability to execute a trade because it cannot even buy micro lot for that said currency even after setting the lot size for 0.01