Forex Strategies Forum

[famous]

I'm a nebb and haven't starting to use forex yet but am very soon, I'm just trying to understand everything to no, my question is wen u have lets say a $1,000 in a account and lets say I made 50 pips and I use eur/usd in the trade, how much are the pips worth???? Please help me out!!!!

[Rom]

hi famous

As you probably already have discovered you can make a lot of money in forex in short time, like 80% in one hour, by using high leverage

Keep leverage high and stoploss tight, like 10 pips

You can trade at any time during the day

Your profit is propotional with the numbers of trades you make each day

Your profit is propotional with size of bets

If you don't have any money just use your credit card

Having a fast PC is a big advantage

Remember that when using a standard account instead of a mini account you can trade very larger contracts, like 100.000 USD with only 1000 USD. The professionals in banks use standard accounts, not mini or micro accounts

There are many free courses on technical analysis. They will teach you all you have to know without knowing the details of any specific currency

Happy trading and enjoy your profits on the beach

[muddeman]

I'm a nebb and haven't starting to use forex yet but am very soon, I'm just trying to understand everything to no, my question is wen u have lets say a $1,000 in a account and lets say I made 50 pips and I use eur/usd in the trade, how much are the pips worth???? Please help me out!!!!

When you trade in forex you have to say how much you want to stake per pip. So if you stake $2 per pip a 50 pip win would mean you have made $100.
If you have $1000 to trade with I would not stake more than $1 per pip initially as a 50 pip loss would mean a loss of $50, which is 5% of your trading account. Do not ever stake more than 5% or preferably no more 2% of your trading account on any one trade.
The best way to ensure you do not lose any more pips than you intend to is by placing a stop loss, which is an order to close your position at a specified point should the market move in the wrong direction.
Be very cautious and trade small amounts only to start with, otherwise you'll learn a very painful lesson and your account will be wiped out in no time!!