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0.01 pips

  • #1
  • First Post: Mar 18, 2009 8:48am Mar 18, 2009 8:48am
im new in forex trading, i want to know if im trading with a volume of 0.01 what will it give me per pip in dollar
  • #2
  • Mar 18, 2009 8:53am Mar 18, 2009 8:53am
Quoting jokeola
im new in forex trading, i want to know if im trading with a volume of 0.01 what will it give me per pip in dollar
Its Micro-Forex 1Pip = 10 Cent
  • #3
  • Mar 18, 2009 8:58am Mar 18, 2009 8:58am
Quoting Heilpraktike
Its Micro-Forex 1Pip = 10 Cent
That's not exactly right. It's $0.10 only if the broker uses standard (100k units) lots, and on EURUSD.

At least in your first stages, you better check before each trade, since the pip value varies based on which pair you're trading and on the pair value. Your broker should have a "pip value calculator" tool; otherwise, just google that term and you'll find plenty of those on the net.
  • #4
  • Mar 18, 2009 9:22am Mar 18, 2009 9:22am
Quoting outspan
That's not exactly right. It's $0.10 only if the broker uses standard (100k units) lots, and on EURUSD.

At least in your first stages, you better check before each trade, since the pip value varies based on which pair you're trading and on the pair value. Your broker should have a "pip value calculator" tool; otherwise, just google that term and you'll find plenty of those on the net.
Yes, its FXCM
  • #5
  • Mar 18, 2009 1:08pm Mar 18, 2009 1:08pm
Good for you J,that's smart -starting out trading live at 10 cents a pip.

You'll learn a whole lot more doing that,rather than spending years posting on here and doing only demo accounts...like what most all seem to do.

8 cents,12 cents, 10 cents who cares? You won't make much but you can't lose much either.

Then start trading multi lots,then work your way up to mini lots.
Then trade muliple mini lots until you make the jump up.
The harder I work,the luckier I get.
  • #6
  • Edited 4:05pm Mar 19, 2009 3:35pm | Edited 4:05pm
Quoting Skippy
Good for you J,that's smart -starting out trading live at 10 cents a pip.

You'll learn a whole lot more doing that,rather than spending years posting on here and doing only demo accounts...like what most all seem to do.

8 cents,12 cents, 10 cents who cares? You won't make much but you can't lose much either.

Then start trading multi lots,then work your way up to mini lots.
Then trade muliple mini lots until you make the jump up.
I agree. Just don't start out at $1600 a pip on an FOMC day.
  • #7
  • Mar 22, 2009 9:28am Mar 22, 2009 9:28am
If youre ABSOLUTELY NEW to trading, it should be on a demo until you can make some sense of whats in front of you.

If youve spent a decent amount of time on a demo, then VERY small amounts such as youre doing "may" or "may not" be advantageous, although my feelings are always to see that youre GOOD on the demo and then move over to reality.

Unfortunately, there will always be men in this world who WONT read the instructions, DIVE immediately into any task, and find their child driving over a cliff because the brakes didnt work !

You do as you does and if you start losing, even a dollar, re-think those "instructions" again !

mp
  • #8
  • Last Post: Mar 22, 2009 10:55am Mar 22, 2009 10:55am
Quoting jokeola
im new in forex trading, i want to know if im trading with a volume of 0.01 what will it give me per pip in dollar
.01 lot = 10 cents, per pip, with a standard account.
.01 lot = 1 cent, per pip, with a mini account.
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