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Many thanks to each of you for your kind and informative answers. I am new to forex, but not new to trading. Last and this week I took my first live trades. The sixteen trades I've made since Thursday have netted me 418 pips. Because of my lack of experience in forex, I do not know if this was a typical gain or an exceptionally good one. For all I know, I'll be down 200 pips next week. I guess what I really wanted to know was what someone with a year of experience trading equity options could reasonably expect for an average weekly pip gain. I've got my emotions pretty well under control and I follow my system rules to the letter.
One other question, if I may further impose on your generous help:
It occurred to me that it may not be necessary to reduce the position size from 3 to 1. Yes, trading 3 standard lots would cause the dollar movement to be three times faster, but the stop loss dollar value would also be three times larger which would negate the speed of the position. In other words it would take exactly the same amount of time for 3 lots to lose $900 and for 1 lot to lose $300. As long as I'm risking under 2% of my account, is it really necessary to reduce the true leverage as well? What is your opinion?
Again, thanks for your most generous help.
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