Happy new year all and happy trading,
I'm demo trading right now on IBFX.
- I want to trade with a $2000 account
- I'm still unsure of the leverage, most prob 200:1
- I plan to trade with EUR/USD
- 4Hr time frame, starting my trade round 4pm (GMT)
Having said that I'll metion what's confusing: When i tried to place a demo trade, say buy, the maximum volume i could place on a trade was 50.00. Now this is how i interpret it, please correct me if i'm wrong:
- say i place a trade to go Long
- i place the volume of 50.00 (for arguments sake)
- the spread is 2 pips, so i'm automatically in a $100 loss
- the trade moves Long as predicted by 6 pips
- so the first 2 pips bring me to evens, then the next 4 bring me to (4 * 50.00 = $200)
- that would mean i've made a profit of $200 on that trade
Is the above scenario correct?
Thank you all for reading,
pip_rugrat x
I'm demo trading right now on IBFX.
- I want to trade with a $2000 account
- I'm still unsure of the leverage, most prob 200:1
- I plan to trade with EUR/USD
- 4Hr time frame, starting my trade round 4pm (GMT)
Having said that I'll metion what's confusing: When i tried to place a demo trade, say buy, the maximum volume i could place on a trade was 50.00. Now this is how i interpret it, please correct me if i'm wrong:
- say i place a trade to go Long
- i place the volume of 50.00 (for arguments sake)
- the spread is 2 pips, so i'm automatically in a $100 loss
- the trade moves Long as predicted by 6 pips
- so the first 2 pips bring me to evens, then the next 4 bring me to (4 * 50.00 = $200)
- that would mean i've made a profit of $200 on that trade
Is the above scenario correct?
Thank you all for reading,
pip_rugrat x