Forex Challenge - $2000 every month!!!
- Thread starter findvikas
- Start date
Plz freind vikas i also intrested to open an account for forex i just wana know what is the brokrage or one thing if i am going to open my account whith 1000$ so how many lost of curancy pair like eur/usd i can by plz tell it will be great help for me as well as people how are looking for forex trading.
hey sumit..
brokerage is nil in one sense as Oanda is commision free broker... they charge you the spread...
say you Buy USDJPY @ 90.690 then you can sell it no less than 90.680 at the same time... the difference is spread which is eaten by the broker. If you trade directly on Interbank FX then you pay 0.0 as spread but have monthly or per trade commisions.
About the lots... you written lost
.. its dependent on your leverage ratio..
say you have $1000 as your account balance and margin is 50:1 so virtually you have $50,000 in your account and can purchase any currency worth that much.
EURUSD is trading at 1.3690 at the moment so you need to pay $1.3690 for a single unit of Euro so you can get as much as 36500 units of EURUSD (approx)
One thing that I have learned in my initial 40 days is that keep your leverage as low as you can handle... we all make mistakes and going down from $1000 to $500 is more easy than going up from $1000 to $1100
Keep it simple... keep it safe and money will follow you.
brokerage is nil in one sense as Oanda is commision free broker... they charge you the spread...
say you Buy USDJPY @ 90.690 then you can sell it no less than 90.680 at the same time... the difference is spread which is eaten by the broker. If you trade directly on Interbank FX then you pay 0.0 as spread but have monthly or per trade commisions.
About the lots... you written lost
.. its dependent on your leverage ratio..say you have $1000 as your account balance and margin is 50:1 so virtually you have $50,000 in your account and can purchase any currency worth that much.
EURUSD is trading at 1.3690 at the moment so you need to pay $1.3690 for a single unit of Euro so you can get as much as 36500 units of EURUSD (approx)
One thing that I have learned in my initial 40 days is that keep your leverage as low as you can handle... we all make mistakes and going down from $1000 to $500 is more easy than going up from $1000 to $1100
Keep it simple... keep it safe and money will follow you.
Who said you can't buy at bottom & sell at top... see this.
A perfect wave that I had been watching on an Hourly Chart of Silver since early morning... up move from day's low to day's high.... complete day's range in a single wave...
Here is the video of it...
http://www.youtube.com/watch?v=Z-WvZSdne20
Click on video to watch on Youtube in HD
A perfect wave that I had been watching on an Hourly Chart of Silver since early morning... up move from day's low to day's high.... complete day's range in a single wave...
Here is the video of it...
http://www.youtube.com/watch?v=Z-WvZSdne20
Click on video to watch on Youtube in HD
hey sumit..
Brokerage is nil in one sense as oanda is commision free broker... They charge you the spread...
Say you buy usdjpy @ 90.690 then you can sell it no less than 90.680 at the same time... The difference is spread which is eaten by the broker. If you trade directly on interbank fx then you pay 0.0 as spread but have monthly or per trade commisions.
About the lots... You written lost.. Its dependent on your leverage ratio..
Say you have $1000 as your account balance and margin is 50:1 so virtually you have $50,000 in your account and can purchase any currency worth that much.
Eurusd is trading at 1.3690 at the moment so you need to pay $1.3690 for a single unit of euro so you can get as much as 36500 units of eurusd (approx)
one thing that i have learned in my initial 40 days is that keep your leverage as low as you can handle... We all make mistakes and going down from $1000 to $500 is more easy than going up from $1000 to $1100
keep it simple... Keep it safe and money will follow you.
Brokerage is nil in one sense as oanda is commision free broker... They charge you the spread...
Say you buy usdjpy @ 90.690 then you can sell it no less than 90.680 at the same time... The difference is spread which is eaten by the broker. If you trade directly on interbank fx then you pay 0.0 as spread but have monthly or per trade commisions.
About the lots... You written lost
.. Its dependent on your leverage ratio..Say you have $1000 as your account balance and margin is 50:1 so virtually you have $50,000 in your account and can purchase any currency worth that much.
Eurusd is trading at 1.3690 at the moment so you need to pay $1.3690 for a single unit of euro so you can get as much as 36500 units of eurusd (approx)
one thing that i have learned in my initial 40 days is that keep your leverage as low as you can handle... We all make mistakes and going down from $1000 to $500 is more easy than going up from $1000 to $1100
keep it simple... Keep it safe and money will follow you.
i will get plz explain tish will i get 100$ or i get 1000$ plz i am wating for your answer and thanks to answer the query.
Hi Sumit,
I would recommend that you read thru this carefully and then decide about using leverage:
h11p://www.investopedia.com/articles/forex/07/forex_leverage.asp
Also, in some of your posts, I read that you are experiencing problem with setting up a live trading account for forex for which broker to use. I would suggest you to open an account with the best name in the industry:
h11p://www.business-standard.com/india/news/alpari-launches-forex-trading-platform-in-india/64289/on
h11p://www.alpari.co.in/en/about_alpari/contact.html
I hope this resolves all your question.
cheers :clap:
I would recommend that you read thru this carefully and then decide about using leverage:
h11p://www.investopedia.com/articles/forex/07/forex_leverage.asp
Also, in some of your posts, I read that you are experiencing problem with setting up a live trading account for forex for which broker to use. I would suggest you to open an account with the best name in the industry:
h11p://www.business-standard.com/india/news/alpari-launches-forex-trading-platform-in-india/64289/on
h11p://www.alpari.co.in/en/about_alpari/contact.html
I hope this resolves all your question.
cheers :clap:
Hi Sumit,
You will get 1000$ profit if you buy 100 lot with a profit of 10 pips. (1lot = 10000 units)
To illustrate an FX trade, consider the following two examples.
Let's say that the current bid/ask for EUR/USD is 1.4616/19, meaning you can buy 1 euro for 1.4619 or sell 1 euro for 1.4616.
Suppose you decide that the Euro is undervalued against the US dollar. To execute this strategy, you would buy Euros (simultaneously selling dollars), and then wait for the exchange rate to rise.
So you make the trade: to buy 100,000 Euros you pay 146,190 dollars (100,000 x 1.4619). Remember, at 1% margin, your initial margin deposit would be approximately $1,461 for this trade.
As you expected, Euro strengthens to 1.4623/26. Now, to realize your profits, you sell 100,000 Euros at the current rate of 1.4623, and receive $146,230
You bought 100k Euros at 1.4619, paying $146,190. Then you sold 100k Euros at 1.4623, receiving $146,230. That's a difference of 4 pips, or in dollar terms ($146,190 - 146,230 = $40).
Total profit = US $40.
Now in the example, let's say that we once again buy EUR/USD when trading at 1.4616/19. You buy 100,000 Euros you pay 146,190 dollars (100,000 x 1.4619).
However, Euro weakens to 1.4611/14. Now, to minimize your loses to sell 100,000 Euros at 1.4611 and receive $146,110.
You bought 100k Euros at 1.4619, paying $146,190. You sold 100k Euros at 1.4611, receiving $146,110. That's a difference of 8 pips, or in dollar terms ($146,190 - $146,110 = $80)
Total loss = US $80.
You will get 1000$ profit if you buy 100 lot with a profit of 10 pips. (1lot = 10000 units)
To illustrate an FX trade, consider the following two examples.
Let's say that the current bid/ask for EUR/USD is 1.4616/19, meaning you can buy 1 euro for 1.4619 or sell 1 euro for 1.4616.
Suppose you decide that the Euro is undervalued against the US dollar. To execute this strategy, you would buy Euros (simultaneously selling dollars), and then wait for the exchange rate to rise.
So you make the trade: to buy 100,000 Euros you pay 146,190 dollars (100,000 x 1.4619). Remember, at 1% margin, your initial margin deposit would be approximately $1,461 for this trade.
As you expected, Euro strengthens to 1.4623/26. Now, to realize your profits, you sell 100,000 Euros at the current rate of 1.4623, and receive $146,230
You bought 100k Euros at 1.4619, paying $146,190. Then you sold 100k Euros at 1.4623, receiving $146,230. That's a difference of 4 pips, or in dollar terms ($146,190 - 146,230 = $40).
Total profit = US $40.
Now in the example, let's say that we once again buy EUR/USD when trading at 1.4616/19. You buy 100,000 Euros you pay 146,190 dollars (100,000 x 1.4619).
However, Euro weakens to 1.4611/14. Now, to minimize your loses to sell 100,000 Euros at 1.4611 and receive $146,110.
You bought 100k Euros at 1.4619, paying $146,190. You sold 100k Euros at 1.4611, receiving $146,110. That's a difference of 8 pips, or in dollar terms ($146,190 - $146,110 = $80)
Total loss = US $80.
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