ATTEN-HUN!! All Recruits report immediately for a welcome message!!

[PerniciousPips]

Whither the Weather

MONEY? on this forex thing? Help me, if I buy into USD/JPY at 133.25 and it goes to USD/JPN 134.25 I'm investing (betting) $5000, how much return will I get? (What is the value of a "pip"?) on the other hand, if it ended at USD/JPY 132.75 What then, would I have lost? I read a lot on what is said here, but to date have not seen anything about ROI, did I miss an important chapter, just read mostly about good guys/bad guys...Thank you for providing this wonderful opportunity to learn and observe, your research and knowledge is welcomed, your desire to share is even greater, thanks to all! a learning recruit!

Oh, yeah, I live in wonderful Thailand, an expat from USA, so happy to be here, life is grand, people are even better! To OLD to tell about, no, I don't have a 20 year old girlfriend, just a lovely 48 year old Thai wife, (does this qualify me as being human?)

Thailand! Sounds much warmer than Michigan--14 degrees, blizzard. Ouch! I've been trading for a little more than a year, and I share your information overload sentiments. As far as "pips" go, your lot (volume) size always determines the value of a pip. Depending on your leverage choice, a standar lot (1.0) is typically $10 per pip, a minilot (.10) is one dollar per pip, and a micro (.01) is 10 cents per pip. As a rule, I generally tell people that if your account has less than $5,000, never set your volume to more than a mini (.10). Once your account is up to $25,000, then start thinking about half a standard (.50) or possible a full standard. I also never put more than roughly 2% of my total account at risk in any given trade. Caluclate what that would be (e.g. on a $5,000 account, I would set my stop loss so that if I did lose, I could not lose more than 2% of the account or $100. Just my own personal trading preferences. Everyone is different, but I guess that's the beauty of the forum--you get all kinds. Hope some of this helped. Looking forward to keeping in touch, and even more forward to enjoying warmth vicariously through you!

 

[Ricex]

nice to see you guys, hope you find time to post some of your experiences to maybe help others, no question is to stoopid to ask.

 

[max dunn]

maximus

hello to all,my name is max,have recently moved to grenada west indies,i live next to the sea,i thought that it would be a great outdoor kind of life but in fact its so hot that i find myself indoors in the shade between 11am and 5pm.so with time to kill as i dont really work as such, i trade a small amount of options and it doesnt take long at all, i found myself looking at various investment oppotunities forex interested me,as it would fit in with my existing lifestyle.then very quickly i followed a link to forex peace army,my first bit of good luck so i .popped it on my toolbar and have enjoyed reading bits and pieces on it to date.
i am a complete begineer to forex and have decided to begin the path of learning here as a new recruit, i think that im in good company?
my goal is to learn as much as possible first, i am thinking that if all goes well then i will trade live june,july 2010, as i do have the time to study.
so i am a blank page as it were and am hoping that readers of this introduction can assist me and point me in the right direction.
my first goal is to learn then to earn, i like making money!
max.

At ease soldier. My name is General Napoleon.

Congratulations on registering successfully. You are now on your way to becoming a solider of the Forex Peace Army. Why don't you introduce yourself to your fellow soldiers? Where are you from, what brings you to Forex, and what are your goals?

Dismissed.

Oh yeah, and enjoy the presentation below as to what Recruit Training looks like (physically unfit and under 18 please do not watch this video)

 

[amirulamar]

Sir, Yes Sir!!

Hello
I'm new here
just learning how to involve in forex trading
hope you guy can share some strategic and tactical info..

 

[Rommel]

hi there

Newbie here, first of all english is not my mother tongue so pardon me for all the grammatical mistakes that sometimes im going to make... I always wanted to do this, im planning in a couple months apply for a loan im thinking 15k, in new years eve i said to myself i dont have too many money obligations, so what the hell.

Im thinking for most part of the year pay for some signals while i still learn the basics.

 

[cowmadagan]

Oh my God Rommel....Please, for the love of all that's sacred...don't get a bank loan and dump it into a forex account.

Can I get a senior officer to say that even you wouldn't do that even once you're profitable?

 

[Rommel]

lol

Really? not even if my only obligation is going to be mmm gas food and the loan?

 

[cowmadagan]

Yes, because there's a very good chance that while you're learning, it'll turn into gas, food, and loan with no assets to show for any of them.

I should add that I really respect your ambition, because I was quite ambitious when I was in your position.
Secretly, I'd say get a whole whack of email addresses and keep switching demo accounts with online brokers for over a year. Also, you'd have to be extremely diligent in not taking breaks when you just don't feel like it. You'd have to also discover what kind of time frame of a trader you are, and should know that there are huge benefits to trying to make money sloooooowly, namely closing out all of your trades on Friday night. I don't see that much slippage happening outside news times and Monday morning Asian time, so it's ok in my experience to leave a position overnight if you diligently look to make sure no major newsreleases scheduled, and more importantly ALWAYS have your stop loss set.
Remember, there's no such thing as free love, and that's another expense that will come up eventually. There are no competitive spreads in that market.

 

[Rommel]

Oh i have my own job

Yes, because there's a very good chance that while you're learning, it'll turn into gas, food, and loan with no assets to show for any of them.

 

[AGJ]

Hi all

Manage to go thru a few posts and threads here and I must say, I like what I saw. I'm from Spore and was trading on a demo account for about 6 months prior to going live about 3 months ago. So far I've had winning trades but more often tha not, it will be eclipsed by losing trades. Guess being new, I really must learn how to control my emotions. Happy to be part of this community and hope that over time, will be able to earn consistent profits so that I can achieve my goal of financial freedom. Possible?