Need help with Risk/Placing $ per pip | Forex Factory

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Need help with Risk/Placing $ per pip

  • #1
  • First Post: Feb 3, 2015 3:40pm Feb 3, 2015 3:40pm
Hi guys!
First off, what a great forum. I am new to forex and just trying to learn as much as possible, really loving reading through all the different threads..
So I have a question for you experienced traders that I hope you can help me with.
Please bear with me as I am more of a creative minded person so maths is not my strongest point.

I am trading a demo account with a broker down in South Africa, and I am trading EUR/USD.
Can someone explain the 'risk' that is underneath these options?

Also went to a Fx seminar and the speaker was talking about placing say $10 per pip... To my knowledge I can't see where I can bet how much i want to put down per pip..

Hopefully this jumbled post makes sense to the more experienced, and would love your feedback.

You'll def be seeing me around.
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Up and coming champion Pip collector.
  • #2
  • Feb 3, 2015 4:50pm Feb 3, 2015 4:50pm
Quoting MrInvestar
Hi guys! First off, what a great forum. I am new to forex and just trying to learn as much as possible, really loving reading through all the different threads.. So I have a question for you experienced traders that I hope you can help me with. Please bear with me as I am more of a creative minded person so maths is not my strongest point. I am trading a demo account with a broker down in South Africa, and I am trading EUR/USD. Can someone explain the 'risk' that is underneath these options? Also went to a Fx seminar and the speaker was talking...
10$ per pip - 1lot trade
1$ per pip - 1 mini Lot 0,10
0,10$ per pip - 1 micro lot 0,01

But depens which currency you have on your account and which pair you trade you can find a PIP CALCULATOR at some fx websites .. :-) ,,,,,,,,,,,, And dont go to a seminar you dont need it better if you buy a book ..
  • #3
  • Feb 3, 2015 6:25pm Feb 3, 2015 6:25pm
Quoting MrInvestar
Hi guys! First off, what a great forum. I am new to forex and just trying to learn as much as possible, really loving reading through all the different threads.. So I have a question for you experienced traders that I hope you can help me with. Please bear with me as I am more of a creative minded person so maths is not my strongest point. I am trading a demo account with a broker down in South Africa, and I am trading EUR/USD. Can someone explain the 'risk' that is underneath these options? Also went to a Fx seminar and the speaker was talking...

Hi MrIvestar,

Here's(http://www.babypips.com/) a good place to get some basic information about forex trading. Better to get as much free information about the basics before spending money for more advanced knowledge.
  • #4
  • Feb 4, 2015 12:08am Feb 4, 2015 12:08am
Quoting Petr.K
{quote} 10$ per pip - 1lot trade 1$ per pip - 1 mini Lot 0,10 0,10$ per pip - 1 micro lot 0,01 But depens which currency you have on your account and which pair you trade you can find a PIP CALCULATOR at some fx websites .. :-) ,,,,,,,,,,,, And dont go to a seminar you dont need it better if you buy a book ..

I'm trading in ZAR..
Yeah It was very interesting at is was a masssive sales pitch to sell some course for 9k$... Went to speak to the guy afterwards and told him about my demo account and he laughed in my face about practising with fake money.. At that point I lost all respect for him.
Up and coming champion Pip collector.
  • #5
  • Feb 4, 2015 4:12am Feb 4, 2015 4:12am
First question:
What type of account do you have?
Standard
Mini
Micro

To find out, place a 1 lot trade in either direction (you did say it was a demo so it doesn't matter the outcome right?) and look at the profit/loss amount. If it's in the $00.0 you have a standard and each lot is worth $10.00.
If it's in the $0.0 than you have a mini and each pip is worth $1.00.
If it's in the $.00 than each pip is worth $.10

I assume the speaker was referring to a standard account (Also went to a Fx seminar and the speaker was talking about placing say $10 per pip) If so than one standard lot would equate to $10.00 per pip. Two would equal $20.00 and so on.

It's a start...hope it helps

tcnj
  • #6
  • Feb 4, 2015 4:36am Feb 4, 2015 4:36am
Quoting MrInvestar
{quote} I'm trading in ZAR.. Yeah It was very interesting at is was a masssive sales pitch to sell some course for 9k$... Went to speak to the guy afterwards and told him about my demo account and he laughed in my face about practising with fake money.. At that point I lost all respect for him.
Yep those people are from 90% idiots
  • #7
  • Last Post: Feb 4, 2015 4:43am Feb 4, 2015 4:43am
Quoting Petr.K
{quote} Yep those people are from 90% idiots
You r so right Peter !!!
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