Need an Answer

lil, I have an oanda acct, stay with the majors. excuse me for butting in.

Michael B.


Quote from LiL"C":

Ok Trader thanks for your help I'll set up a demo account and see what happens. Do you trade forex if so is there anything specific I should look for
More...
 
Ok I will and thanks there is one more thing I have my demo account up and running is the I put in 1000 shares and it said the margin price was like 60 something is that what is gonna cost me in american cash
 
Check up there in the menus

The default is USD

Michael B.

P.S. stay with jpn, gbr, usd, eur

P.S.S. The FX game at Oanda is very similar to real trading.


Quote from LiL"C":

Ok I will and thanks there is one more thing I have my demo account up and running is the I put in 1000 shares and it said the margin price was like 60 something is that what is gonna cost me in american cash
More...
 
You said its 2 cents per pip the first 2 pips cover the Rt and every pip after that is mine right? Now is it 2 cents per unit or is it 2 cents per pip? Lets say I bought 1000 units and it cost me to make it easy I'll say $100.00 and it goes up 3 pips I take two for the RT and the extra one is mine right? Now One pip is 2 cents and if the extra pip the one that's mine do I make 2 cents on the whole 1000 units or do I get 2 cents per unit times 1000 units is $20.00 or is it just 2 cents flat per pip if that's the case it would have to move a 1000 pips to make $20.00 and if so is that possible? Sorry so many questions I just wanna make sure I'm starting out on the right foot and thanks for the tip on what to look for.
 
Quote from LiL"C":

You said its 2 cents per pip the first 2 pips cover the Rt and every pip after that is mine right? Now is it 2 cents per unit or is it 2 cents per pip?
More...

1000 units would be 10 cents per pip.

3 pips = 30 cents. You would net 10 cents on a 1000 unit 1 lot 3 pip move trading EURUSD (2pip spread during most of the day).

Just log in and fire off a trade on FXGame, you can watch your profit/loss as the market changes from the Oanda main screen.

In FXGame you cannot lose any money, simulate trades on it until you can make money over a week or several weeks. Get comfortable with the user interface and order placement. Then log into the FXTrade to trade with real money. FXGame and FXTrade are almost the same.


Oanda has a message forum for new users you may want to look at.

Good luck
 
Yea I'm starting to see that and I have been looking at it for the last hour I'm trying to figure out how the cost per unit is and how much return I'll get if I bought 1000 units for a $100.00
 
Ok if anyone understands anything on trading currency feel free to let me know I could the help I have spent half the day trying to figure it out but I'm still not quite sure
 
You must log in or register to reply here.
Back
Top