New to Forex looking for advise

[dacbrunete]

Hi I began a Demo account trading 2 hours ago.

I am working on GBP/USD right now and made some cash.

Why is it that when I buy there's a margin of 4 PIPS?

In order for me to make cash the USD must drop 5 PIPS.

Where do these PIPS go ?


Due

[dacbrunete]

Ok I will read the forum and books and continue to trade Demo until I believe I know too commerce my risk my own cash.

I have studied the GBP/USD I shed some pips and made some back I made overall about 20 PIPS. I traded some oil and made 20 PIPS overal.


If you invest $1000 at 100:1 that could be a profit off $10 per PIP and you also reduction $10 to every PIP you reduction is that right?

So I you make 10 PIPS complete a day that would be 100 profit.

[oxrayselas_]

Ok I will browse the forum and novels and continue to exchange Demo until I believe I understand too commerce my risk my own cash.

I've researched the GBP/USD I lost any pips and made some back I made entire about 20 PIPS. I also traded some oil and created 20 PIPS overal.


If you spend $1000 in 100:1 that could be a gain off $10 per PIP and you also reduction $10 to every PIP you reduction is the right?

So I you create 10 PIPS overall a day that would be $100 profit. Yes on a full account some brokers also have mini accounts for these, 1 Pip=$1 and some of them go even smaller down to 1pip= 1cent I think.

[dacbrunete]

I started today with $50K in demo account did not know what I had been doing for 2 hours and lost $12K getting used to trading. Then I exchange oil for 3 hours and now have $53K within my account.

I am tired off trading oil for one today.

[sarai9m]

Question I ask about. I couldn't figure out for the life span of me I was 3-pips negative. Later, I gained the understanding of the way the brokers get paid and the way there isn't any commission. Read on and demo trading. . GOD BLESS you on your own trading.

PS. You traded OIL? Alternatives or Futures?

[dacbrunete]

I was trading Crude Oil (Light S.) on http://www.gcitrading.com

[Naiox1990]

If you invest $1000 in 100:1 that could be a profit off $10 per PIP and you loss $10 to every PIP you loss is that correct?

So I you create 10 PIPS overall per day which would be 100 profit. Yes, that's correct, and if your target is to lose all your money real fast, then using 100:1 leverage is the way to do it.

Read this post of mine: https://www.cliqforex.com/trading-system-and-egies/2809-simple-candlestick-pivot-method-gbp-jpy.html

However, as critically important as leverage is, risk control and position sizing will also be significant. The Van Tharp publiion can assist you.

Dial

[dacbrunete]

Ok I see I am trading and made some money.

Hence the secret is consistency.

I finished now 6% in profit on the demonion I will trade on the demonion untill I have proven consistency then proceed on to a real account

[sarai9m]

Marc, Do you Live in the USA? Because, I wanted to exchange with the same company you trade but they stated because of the Laws differ from where there company is situated. Please inform me is there a way I can set-up an account with this trading firm.

Due

[pikar0]

Okay I see I am trading 1:1 about the demonion and made some money.

So the key is consistency.

I finished today 6% in profit over the demonion I will exchange on the demonion untill I have shown consistency then move on to some real account Welcome Marc to the Forum. . .Good to understand that you are beginning your journey using the forex market from here (I suggestcliqforex)...

Anyhow, you are totally right, the key is to always amass up to pips as possible over the long haul, and it doesn't matter if you lose 9 times and win 1 period as long as you are constantly amassing pips....

I am just using a sense that you are going to be a very successful trader..Don't actually know why, but I feel so...

Hope you will appreciate it and profit from it too...


Thanks,

Nader

[dacbrunete]

I am in the UK.

I trust I do become great at Forex to, I like trading.

I will do some more trading on monday and learn a little more from my demo account.

[Naiox1990]

Hello I began a Demo account trading 2 hours ago.

I'm working on GBP/USD right now and made some cash.

Why is it when I buy there is a margin of 4 PIPS?

In order for me to earn cash the USD must shed 5 PIPS.

Where do these PIPS go ?


Thanks Hi Marc, and welcome to cliqforex.

The 4 pips that you refer to are called the spread, not the margin. Although I can understand your confusion because margin sounds like margarine that's a spread!

Seriously, the 4 pips is the gap between the bid price and the ask price. The spread causes you to already be in the hole using a 4 pip loss the minute you enter a new trade. Your commerce must then move 4 pips simply to return to breakeven. 5 pips or more and you are in profit.

Where does this go? It goes to a broker's pocket. That is how they get paid for the support that they provide you.

Again, welcome, and ask as many questions as you'd like.

Dial