PerniciousPips
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Whither the Weather
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!
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!