GBP USD Fx pair - How Many Lots should I trade

[victor123]

Hi,

I have a simple day trading forex system using GBP USD fx pair with trades aiming 20-30 pips. Entries use stop orders. I am expecting myself and a few other to follow this system. What's the max no of lots (10k units) that we should consider trading amongst us based on liquidity of GBP USD market etc. Guess a normal slippage of 1/2 pip is acceptable. Also we would use simple entries and exits i.e. enter and exit all lots together no scaling in /out . Grateful, if anyone could provide some practical guidance. Thanks..

 

[Dubai]

Not sure what you're asking? 10k is a mini lot. GU is extremly liquid during London session.

 

[victor123]

Not sure what you're asking? 10k is a mini lot. GU is extremly liquid during London session.

Ok 100k is a standard lot. We could potentially trade outside London session as well. What's the number of standard lots of GBP USD that one could trade following the same signal ? What would be considered too many? Following the same signals, would 100 standard lots be too many or 500 standard lots be too many? Need some practcal guidance. NB: Profit target of trade is 20 - 30 pip, entry uses stop orders. Thanks.

 

[Dubai]

Cable could easily absorb a 500 lot order.

 

[victor123]

Cable could easily absorb a 500 lot order.

Thanks..