CFD sizing with higher leverage: is my thinking backwards?
I've been dabbling in CFDs, mainly on indices like the GER40 and US30, and I'm trying to wrap my head around position sizing when the leverage is, shall we say, rather generous. My instinct, probably from spot forex, is to keep my risk per trade at a fixed percentage of my account, say 1%. But with 1:500 leverage available, it feels like I could take a tiny capital amount and open a massive position, hitting that 1% risk target with just a few pips movement against me. It's almost too easy to blow through the risk.
Am I overthinking this, or should I be scaling back my notional position size significantly more than I'm used to, even if the absolute monetary risk is the same? Is it more about managing margin usage as a percentage of total equity, rather than just the dollar value of the stop loss?