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[jotuk6771]

You seem to be a lone soldier, so I thought I'd chime in........I trade on a longer term so I will put in some trades.....
I put this one on earlier today but it hasn't moved much all day....

1/20...gbpusd.....sell....1.62663......sl around 1.6450??
 

+ 160 pips already ... ,0)

[Chipldr999]

You seem to be a lone soldier, so I thought I'd chime in........I trade on a longer term so I will put in some trades.....
I put this one on earlier today but it hasn't moved much all day....

1/20...gbpusd.....sell....1.62663......sl around 1.6450??
 

+ 160 pips already ... ,0)

How much does a pip consist of?  Or is that like a percentage

[jotuk6771]

You seem to be a lone soldier, so I thought I'd chime in........I trade on a longer term so I will put in some trades.....
I put this one on earlier today but it hasn't moved much all day....

1/20...gbpusd.....sell....1.62663......sl around 1.6450??
 

+ 160 pips already ... ,0)

How much does a pip consist of?  Or is that like a percentage

What Does Pip Mean?

The smallest price change that a given exchange rate can make. Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point - for most pairs this is the equivalent of 1/100 of one percent, or one basis point.

For example, the smallest move the USD/CAD currency pair can make is $0.0001, or one basis point. The smallest move in a currency does not always need to be equal to one basis point, but this is generally the case with most currency pairs.

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Ok, Chipldr , for example , you have 1000 $ in your account , your broker allow you a leverage on Margin 1:200 , it means that with 50$ invested you can enter the Market with 10'000 $
You open a position Long in EUR/USD at a quote of 1.4012 , the pip is the 4th number after the comma , if the price move in your favor to 1.4032 , you win 20$ .
The same move with 100$ invested = 20'000$ , but the price move against you to 1,3992 , you lose 40 $
The same move with all your money in , 1000$ X 200 leverage = 200'000$  at 1.4012 , it means 20$ each pip , the price move against you 20 pips , to 1.3992 , you lose 400$ ...

Last 10 days , the EUR/USD fell to 1.4070 from 1.4570 = 500 PIPS.... I missed the train  ... but , it means that the EUR fell just around 3% against the USD ... But , if you shorted it at 1.4570 with 50 $ 1:200 leverage , your position value should be now 500 $ (+900% return on investement / + 50% for your account) and lost half your account if you was Long without stop loss ...

Useful Links

http://www.babypips.com/school/

Understanding leverage : http://www.babypips.com/school/leverage_the_killer.html

P.S : i opened a Mini account with 1000 $ , therefore , Pros would say that i'm currently undercapitalized , but it's possible to manage ... 

Cheers! 

[Vegas]

I of course get up much later than you Jotuk but I just grabbed a long position on the EUR/USD at 1.4140... Will see if I can scalp a few pips today...

[jotuk6771]

I of course get up much later than you Jotuk but I just grabbed a long position on the EUR/USD at 1.4140... Will see if I can scalp a few pips today...

Hello Vegas 

No, you are the first in ! 

I'm waiting @ 1.4115 

[Vegas]

I jumped back out after scalping it for +18 pips... It's bouncing a lot so I will keep trying to catch the uptick profits as I will be sitting right here keeping an eye on it...

[jotuk6771]

I jumped back out after scalping it for +18 pips... It's bouncing a lot so I will keep trying to catch the uptick profits as I will be sitting right here keeping an eye on it...

Well done ! 

I'm a bit busy on shares today , so i just entered a conditionnal order lower at a support , if it goes up , will be a bargain price , if down , i can cover much tighter ...

[jotuk6771]

I jumped back out after scalping it for +18 pips... It's bouncing a lot so I will keep trying to catch the uptick profits as I will be sitting right here keeping an eye on it...

Pretty flat actually ... should have played GBP/ USD, or GBP/JPY , but this one is very dangerous  with a large costly spread ....

[Vegas]

The EUR/USD just took a good sized correction drop so I took a buy position as it looks like the dollar is falling off... 

[jotuk6771]

How about your Forex Trips , Vegas ?   

[Vegas]

How about your Forex Trips , Vegas ?   

Got my butt paddled this past week with just two bad plays that turned on me... They go down a lot faster than they go up... 

[Vegas]

Just had a heck of a nice run shorting the EUR/USD... Decided to cash out and make bank in case it turns...

[jotuk6771]

Just had a heck of a nice run shorting the EUR/USD... Decided to cash out and make bank in case it turns...

Well done , Vegas 

[trada]

Just had a heck of a nice run shorting the EUR/USD... Decided to cash out and make bank in case it turns...

Congrats on making bank. Excellent time  to get out, as it is trying to figure out what it is going to do.

[jotuk6771]

Just had a heck of a nice run shorting the EUR/USD... Decided to cash out and make bank in case it turns...

Congrats on making bank. Excellent time  to get out, as it is trying to figure out what it is going to do.

Are you playing it , trada ?