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14 Year Old Forex Trader's Lessons

  • #2,361
  • Oct 12, 2011 9:44pm Oct 12, 2011 9:44pm
Quoting mla
I am not good at math, but I think you got it wrong, a standard lot is 100.000 unit and it should be $10 a pips.
$10x5000= $50000

mla
1.0– 1 Standard lot = $100,000 of a currency, therefore $10/pip

0.1– 1 Mini lot = $10,000 of a currency, therefore $1/pip

0.01– 1 Micro lot = $1,000 of a currency, therefore 10c/pip

Based on 100:1 leverage

Standard Lot = $100,000 / 1 Pip = $10 ($1000)
Mini lot = $10,000 / 1 Pip = $1 ($100)
Micro lot = $1,000 / 1 Pip = $.10 ($10)

And the margin you are required to put up is:

Standard Lot = $1,000
Mini lot = $100
Micro lot = $10

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,362
  • Oct 12, 2011 9:46pm Oct 12, 2011 9:46pm
Quoting mla
I am not good at math, but I think you got it wrong, a standard lot is 100.000 unit and it should be $10 a pips.
$10x5000= $50000

mla
ah yes, sorry.

so now its um..
497,000 for you
494,000 for me if i am not mistaken...
including 1000 pip loss.

well i caclulated the micro lot 0f 0.01 so i think adding a zero here would help
Have I got something on my face, SOLDIER?
  • #2,363
  • Oct 12, 2011 9:49pm Oct 12, 2011 9:49pm
oh no!!! my nemesis nubcake is here

hey buddy

you were right.
on many counts and i accept, that as man. i argued with you so much but ego blinded me.

i am using stops at times, trailing stops, and no stops according to what seems less risk.

you can make a happy dance, red lion recognizes the importance of using stops in certain market conditions.
AVT INVENIAM VIAM AVT FACIAM
  • #2,364
  • Oct 12, 2011 9:49pm Oct 12, 2011 9:49pm
Quoting nubcake


no one can solve the math because you never mentioned the important part.... how many freakin trades it took to get to your end dollar amount. it's not going to be all wins from 0 to 50000 which you can then derive the spread cost and then by extension modify this to a "what if the spread was" scenario.
Freaking?
No the idea was underline the fact that I have a better chance to make it if my spread is narrower. That' s all.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,365
  • Oct 12, 2011 9:52pm Oct 12, 2011 9:52pm
Quoting bumapatria
ah yes, sorry.

so now its um..
497,000 for you
494,000 for me if i am not mistaken...
including 1000 pip loss.

well i caclulated the micro lot 0f 0.01 so i think adding a zero here would help
$50000

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,366
  • Oct 12, 2011 9:53pm Oct 12, 2011 9:53pm
price seems to be flooring at .3770

not a lot of selling pressure on this one, granted a drop can still happen, i believe it likely to re test highs

i will look to buy this one as a scalp with a stop below .3770 and be quick

London can be unpredictable
AVT INVENIAM VIAM AVT FACIAM
  • #2,367
  • Oct 12, 2011 9:55pm Oct 12, 2011 9:55pm
i can scalp sell this one at .3790 stop above it and look to exit quick as well
AVT INVENIAM VIAM AVT FACIAM
  • #2,368
  • Oct 12, 2011 9:55pm Oct 12, 2011 9:55pm
Quoting the redlion
oh no!!! my nemesis nubcake is here

hey buddy

you were right.
on many counts and i accept, that as man. i argued with you so much but ego blinded me.

i am using stops at times, trailing stops, and no stops according to what seems less risk.

you can make a happy dance, red lion recognizes the importance of using stops in certain market conditions.
now you know why they say to always bet on nubcake...

they don't actually say that, but they should, damnit!
Congratulations ScalaFX for coming out of the closet!
  • #2,369
  • Oct 12, 2011 9:57pm Oct 12, 2011 9:57pm
Quoting the redlion
oh no!!! my nemesis nubcake is here

hey buddy

you were right.
on many counts and i accept, that as man. i argued with you so much but ego blinded me.

i am using stops at times, trailing stops, and no stops according to what seems less risk.

you can make a happy dance, red lion recognizes the importance of using stops in certain market conditions.
scare him off with your roar... meow...
there u go, he's off and running oh look he jumped a cliff

yeah red the point of stops is basically to protect your equity from substantial loss from a particular move against your trade's direction, and only if you feel that IT IS YOUR direction, (hmm.. reminds me of someone.. dont know who... do you red?, nah but u great at rescues). Despite your ability to rescue trades, wont you feel better if you are profitable on that trade itself WITHOUT a rescue? well thats my advice from a cheetah to a lion. i have no mane, but i got speed

take this for example. its a gold short. why did i put my stop loss up there? that is a supply level and anything above would mean bullish victory aka bears lost that battle another aka I lost because i was bear on gold. Imagine if that gold panic sell to $13 an ounce and u thought it was your direction, when you look at the next day it could all be gone.

just take this then for advice, its easy to create a bulding, its even easier to destroy it. like a house of cards. Only thing holding it up is foundations at each level. If one by one is taken out, ure done. thats the good scenario, imagine if one sweep it takes it all out?

All profit is gone.

That is why i have only 1 trade per pair/per direction. A trailing stop is to catch what you've earned from your house o' cards and for you to be safe when it falls and to be happy actually lol.
Attached Image
Have I got something on my face, SOLDIER?
  • #2,370
  • Oct 12, 2011 9:57pm Oct 12, 2011 9:57pm
Quoting mla
Freaking?
No the idea was underline the fact that I have a better chance to make it if my spread is narrower. That' s all.

mla
of course a smaller spread = more joy.

but you said to do the math, then he tried to do the math, then you also had a crack at some math.... it was matherific.

however, you simply can't do any math with the spread when you don't know the amount of trades it took to get from a to b.... so all math is futile in the meantime.
Congratulations ScalaFX for coming out of the closet!
  • #2,371
  • Oct 12, 2011 10:00pm Oct 12, 2011 10:00pm
Quoting the redlion
price seems to be flooring at .3770

not a lot of selling pressure on this one, granted a drop can still happen, i believe it likely to re test highs

i will look to buy this one as a scalp with a stop below .3770 and be quick

London can be unpredictable
OMG REDLION CaN BUY?!
No.... hahhahhaha
http://s3-media1.px.yelpcdn.com/bpho...RLqKeavQ/l.jpg

lets all hope this realization of error becomes a chance to correct and not repeat an act such as this again..

welcome numbcake
Have I got something on my face, SOLDIER?
  • #2,372
  • Oct 12, 2011 10:02pm Oct 12, 2011 10:02pm
Quoting nubcake
of course a smaller spread = more joy.

but you said to do the math, then he tried to do the math, then you also had a crack at some math.... it was matherific.

however, you simply can't do any math with the spread when you don't know the amount of trades it took to get from a to b.... so all math is futile in the meantime.
Thank you for making me feel so go, very classy.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,373
  • Oct 12, 2011 10:03pm Oct 12, 2011 10:03pm
Quoting mla
Standard Lot = $100,000 / 1 Pip = $10
Mini lot = $10,000 / 1 Pip = $1
Micro lot = $1,000 / 1 Pip = $.10

mla
You're trying to find how much money you could make if you both made 5000 pips?

That would be 500 USD if you traded micro lots
5 000 USD if you traded mini lots
50 000 USD if you traded standard lots

Nubcake's got a point.

Let's say you opened 200 trades of 25 pips each.

If you both traded micro lots, mla would pay 20 USD on the spread, buma would pay 40 USD on the spread

If you both traded mini lots, mla would pay 200 USD on the spread, buma would pay 400 USD on the spread

If you both traded standard lots, mla would pay 2 000 USD on the spread, buma would pay 4 000 USD on the spread

So:

Micro lot trading: buma pays 20 USD more

Mini lot trading: buma pays 200 USD more

Standard lot trading: buma pays 2000 USD more

I think that's the point

Pbh
  • #2,374
  • Oct 12, 2011 10:08pm Oct 12, 2011 10:08pm
sell 3784 scout sent
if up above ceiling i exit if falls i send a checker, price seems to be losing buying pressure

will exit on loss of downside pressure for a quick scalp

1.3781 is key,
AVT INVENIAM VIAM AVT FACIAM
  • #2,375
  • Oct 12, 2011 10:09pm Oct 12, 2011 10:09pm
Quoting Pbh
You're trying to find how much money you could make if you both made 5000 pips?

That would be 500 USD if you traded micro lots
5 000 USD if you traded mini lots
50 000 USD if you traded standard lots

Nubcake's got a point.

Let's say you opened 200 trades of 25 pips each.

If you both traded micro lots, mla would pay 20 USD on the spread, buma would pay 40 USD on the spread

If you both traded mini lots, mla would pay 200 USD on the spread, buma would pay 400 USD on the spread

If you both traded standard lots, mla would pay 2 000...
So I was right then the difference is $50000.

Is point is irrelevant to the discussion, his point is only relevant to his showing off and to his ego.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,376
  • Oct 12, 2011 10:11pm Oct 12, 2011 10:11pm
Quoting Pbh
You're trying to find how much money you could make if you both made 5000 pips?

That would be 500 USD if you traded micro lots
5 000 USD if you traded mini lots
50 000 USD if you traded standard lots

Nubcake's got a point.

Let's say you opened 200 trades of 25 pips each.

If you both traded micro lots, mla would pay 20 USD on the spread, buma would pay 40 USD on the spread

If you both traded mini lots, mla would pay 200 USD on the spread, buma would pay 400 USD on the spread

If you both traded standard lots, mla would pay 2 000 USD on the spread,...
Buma lot: pedro goes to sleep since its 10 pm his time, and shut up why always buma and mla huH? why not redlion huh huh? lol pedro u said u were tired.. .just like me lol... aquarians...

lol becomes big discussion bout money huh?

"I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought. " - Gordon Gekko

"If your enemy is superior, evade him. If angry, irritate him. If equally matched, fight, and if not split and reevaluate. " - Bud Fox

Wall street lol
Have I got something on my face, SOLDIER?
  • #2,377
  • Oct 12, 2011 10:11pm Oct 12, 2011 10:11pm
Quoting Pbh
You're trying to find how much money you could make if you both made 5000 pips?

That would be 500 USD if you traded micro lots
5 000 USD if you traded mini lots
50 000 USD if you traded standard lots

Nubcake's got a point.

Let's say you opened 200 trades of 25 pips each.

If you both traded micro lots, mla would pay 20 USD on the spread, buma would pay 40 USD on the spread

If you both traded mini lots, mla would pay 200 USD on the spread, buma would pay 400 USD on the spread

If you both traded standard lots, mla would pay 2 000 USD on the spread,...
more so that 1 trade netting 5000 pips has a completely different spread cost associated with it compared to 1,000 trades netting 5000 pips. therefore, doubling the spread on 1 trade netting x pips is wildly different to 1,000 trades arriving at x pips. the first one was an easy ride with negligible costs involved, and the other had to fight and claw it's way over spread costs to arrive into profit (or perhaps not even profit).
Congratulations ScalaFX for coming out of the closet!
  • #2,378
  • Oct 12, 2011 10:13pm Oct 12, 2011 10:13pm
Quoting nubcake
more so that 1 trade netting 5000 pips has a completely different spread cost associated with it compared to 1,000 trades netting 5000 pips. therefore, doubling the spread on 1 trade netting x pips is wildly different to 1,000 trades arriving at x pips. the first one was an easy ride with negligible costs involved, and the other had to fight and claw it's way over spread costs to arrive into profit (or perhaps not even profit).
here we go

mla
"The Heart is the hub of all dances; go there and chill out"
  • #2,379
  • Oct 12, 2011 10:13pm Oct 12, 2011 10:13pm
Quoting mla
So I was right then the difference is $50000.

Is point is irrelevant to the discussion, his point is only relevant to his showing off and to his ego.

mla
now I think about it, if you both made 5 thousands pips of profit. There's no difference at all. The spread is paid behind the profits... But having a lower spread is much better.

Pbh
  • #2,380
  • Oct 12, 2011 10:14pm Oct 12, 2011 10:14pm
moved stop to b/e


this reminds me why i hate stops

triggered with out even touching it
AVT INVENIAM VIAM AVT FACIAM
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