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The only reason they talk about PIPs is to make P/L's (profit's and losses) easily calculatable in your head. You can trade with any unit (unit = the amount that the rate gave you at that time... just think of it as dollar amounts and it's easier).

www.goforex.net and www.investopedia.com a PIP = Price interest Point = 1/1000th of a penny aka 0.0001 dollars 1 lot is considered 100K aka $100,000 1 mini-lot is known as 10K aka 10grand, 10K, $10,000 etc basically with 1 mini-lot each PIP = $1 up or down and with 1 lot each PIP =...

Adjusted my stops to 15 pips instead of 10 after this happened. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=759212> In the chart the orange down arrow is short entry and the red circle is stopped out for those who don't know.

I forgot to post USD/EUR pair. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=758980>

trades closed this morning before leaving work: I had to close out one of them (I forgot which) because it was hitting a support line which it had previously bounced off of 3 times in the past combined with that it was near a .50 PIP price resistance. usd/eur was a good run... 2 trades...

"Your friend that trades stocks, did he offer you any kind of tips on how to start trading, or on trading in general? If so, what did he say?" I let him talk a lot about it but I knew he was still new at it so I just took everything he said with a grain of salt. I do remember asking him to...

Last September, I quit college (after switching my major 3 times over 3 years and changing colleges twice) and was wondering what I was going to do with my life since I hadn't found anything career based yet that I thoroughly enjoyed. I had done a computer business but I started hating it when...

Winning or losing strategy, time+practice / discipline will tell.

Here's the platform. I included a bunch of the background useless space in the pic because it's always interesting to see what stuff is on other ppl's computers (at least I like to see how other ppl's organize their computers). I was using IQfeed with Quotetracker along with the main...

How do you post a pic within the msg body of the reply and not just as a downloadable link?

I commit to trading a demo account until Dec 2005. I need to practice a lot b4 I take the money from my brokerage and use it in Forex. My approach will be to anticipate/watch/wait for breakouts at the 50 cent marks. My biggest weakness is over trading and trading on emotion spontaneously...

Yeh, I wonder what it's going to do now. Just have to wait for a breakout.

thx for the link

Would you mind being more descriptive?

Out of sight, out of mind. Until it comes back into view.

I meant to say that before HSQuote converts the data into Metastock format it pulls its Forex data from OandA.com, not the Yahoo servers.

It's on edonkey.

thanks for the info Skalpz

You can also use HSQuote (google it) and it'll convert Forex data from the Yahoo servers into a format compatible with Metastock.

I use them too and they sent out a mass e-mail when they were upgrading their backoffice. In that e-mail there was about 115 addresses so I'm guessing they have 115 customers. They're good to trade with but if you're starting with only $500 (like I've been doing and currently my 2nd time...