Small size that is. Small lot size of course. Get your mind out of your pants.
I got an email from a fellow trader commenting on my blog and he mentioned that Oanda has fractional lot sizes. This would help me place wider stops when the situation requires it. I was actually thinking about moving over to Oanada because they also have very tight spreads…most of the time. The only drawback is that on the crosses, the spreads can get really wide if liquidity dries up.
Fractional lot sizes allow you to trade say 400 units instead of having to trade the standard micro-mini-full lot sizes of 1,000-10,000-100,000 units. That can definately be an advantage if you want to take a really small position to test the waters.
I am seriously considering doing it. My current broker FX Solutions has been great but I primarily picked them because of their great charting platform. Now that I use Metatrader for charting, there is really no need for their charting platform and smaller spreads and fractional lot sizes would be a definite benefit.
I’ll let you know what I decide.
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