Beginners Guide to Forex Trading

Tavnaz

Tavnaz

Well-Known Member
#41
#41
I play USD/SEK has a pip rate of .13 $ per pip.
And has huge moves around 900 pips or so.
That amounts to around 90 $ a day.
And the big part is ,you just ,monitor US news.
Anyways,start with high time frame i will suggest.
Regards
Taz
 
R

Raghavacc

Well-Known Member
#42
#42
Tavnaz said:
I play USD/SEK has a pip rate of .13 $ per pip.
And has huge moves around 900 pips or so.
That amounts to around 90 $ a day.
And the big part is ,you just ,monitor US news.
Anyways,start with high time frame i will suggest.
Regards
Taz
Click to expand...
Hey Taz,

Can you please keep me posted as to who is that broker? in GCI minimum is 0.1 lot .I feel the broker with whom you are trading must be having microlots I guess.
 
Tavnaz

Tavnaz

Well-Known Member
#43
#43
Your Question.

Raghavacc said:
Hey Taz,

Can you please keep me posted as to who is that broker? in GCI minimum is 0.1 lot .I feel the broker with whom you are trading must be having microlots I guess.
Click to expand...
We buy USD 10,000 sell SEK 6.6900 X 10,000=66,900 SEK
Now The current Rate rises to 6.6970 My 10,000 USD are worth 66970 SEK.
My Profit is 70 SEK,But i want profit in $ So 70/6.6970= 10.45 $
Now that is 10.45 $ for 70 pips profit,so $ per pip=10.45/70=.14 $ per pip.

See Raghav,that is around .14 $ per pip,on a minilot not a micro.
And If you have standard then it is 1.4 $ per pip.


So in case you know a sure trade is there USD/SEK can be your way to break in the bank.
Average daily move is around 1000 pips
My Brokers are oanda.com,and other is forex.com,i also use Interbankfx
Regards
Taz
 
S

senor

New Member
#44
#44
Hi Edward

For starting this thread a great plus for newbies
Am new to forex and spoke to iforex can anyone tell me what category does 1)iforex belong to MM or ECN 2) They say i can open an acc with just 100$ with 1:400 lev. and a brokerage of 5 pips per 10000 lot 3)supposing i take a position on the eur/usd with a full exposure which is 40000 $ buying 4 lots of 10000 each, will each pip make or lose me a dollar 4) Does 1 pip mean the fifth digit after the decimal in the eur/usd.4)What is ur opinion/rating on iforex
Will Highly appriciate any resp

senor
 
E

Edward

Well-Known Member
#49
#49
Re: Choosing a Forex broker -

There are two kinds of brokers primarily.
The one who uses a Dealing Desk, the others who have a Non Dealing Desk model....

The Dealing desk model gives a lot of elbow room for the brokers to manipulate the trades... not allowing you to exit, enter, trade context busy etc etc are the offshoots of the dealing desk model... where the broker has systems in place to ensure that they are benifitted each time you take a trade...

The Non dealing desk model (STP and ECN fall in this) are the ones where, simply put, your trades are directly processed at the liquidity providers for the brokers... leaving little room for the brokers to manipulate (many will debate this point, but for simplicity you just need to know this much)

Better to be with a NDD broker, and you are in the right hands... FXCM has a NDD model so don't worry... with proper money management.... you will be a sure winner...



Sadashiv Sawant said:
Hi Edward
Can you please tell me what is this STP or ECN ? I have my trading account with FXCM and I am not aware of this "STP,ECN".
Click to expand...
 
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