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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 20 (565399 Views)
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Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 11:02am On Dec 04, 2020 |
2 Likes
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Re: Forex Trade Alerts: Season 20 by COOL10(m): 11:02am On Dec 04, 2020 |
Karleb:. Thank you |
Re: Forex Trade Alerts: Season 20 by COOL10(m): 11:03am On Dec 04, 2020 |
Re: Forex Trade Alerts: Season 20 by djwalata(m): 11:13am On Dec 04, 2020 |
There's a big tussle btw bulls bears in gold market.NFPR will decide d winner but I tend toward d bulls. |
Re: Forex Trade Alerts: Season 20 by peteregwu(m): 11:22am On Dec 04, 2020 |
lankka:Nice one! |
Re: Forex Trade Alerts: Season 20 by COOL10(m): 12:54pm On Dec 04, 2020 |
Good day guys... Novice here Cents account calculations keep giving me headaches. I need help If a $50 account is given as 5000cents, shouldn't a profit of $0.5 be given as 5050 which would imply $50.50? If so, then why is it given as 5000.50? |
Re: Forex Trade Alerts: Season 20 by meshpips(m): 2:42pm On Dec 04, 2020 |
USDCAD looks like a very good buy at the current price 1.2826 It is over extended to the downside for today in my opinion. All the best guys! |
Re: Forex Trade Alerts: Season 20 by Karleb(m): 4:30pm On Dec 04, 2020 |
COOL10: It's obvious the profit isn't $0.5 like you stated. For it to be half of a cent means it's way smaller. The profit should be $0.005. 1 Like |
Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 4:40pm On Dec 04, 2020 |
Sell zone on eurjpy
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Re: Forex Trade Alerts: Season 20 by kkins25(m): 4:50pm On Dec 04, 2020 |
anybody eyeing EURUSD?? |
Re: Forex Trade Alerts: Season 20 by hidhrhis(m): 5:25pm On Dec 04, 2020 |
hidhrhis:price did not close as anticipated i will only be looking to buy when price reach my point of validation
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Re: Forex Trade Alerts: Season 20 by infofirst(m): 5:32pm On Dec 04, 2020 |
AK284: Thanks bro. I am doing fine. Been trying to catch up pages. A whole lot have happened for real on the thread. Mixed feelings. |
Re: Forex Trade Alerts: Season 20 by Benqozenero(m): 6:32pm On Dec 04, 2020 |
infofirst: Hehehehe. Welcome Boss. |
Re: Forex Trade Alerts: Season 20 by meshpips(m): 7:02pm On Dec 04, 2020 |
CADJPY Sell?
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Re: Forex Trade Alerts: Season 20 by COOL10(m): 7:15pm On Dec 04, 2020 |
Karleb:. I was just speaking hypothetically. Here's a picture of a trade I took earlier on my demo cent account. I took a profit of 3.8 pips on a 0.01 lot and it showed me this...
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Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 7:38pm On Dec 04, 2020 |
COOL10: I wish this account was real, I don miss some of our Forex millionaires for here. |
Re: Forex Trade Alerts: Season 20 by Karleb(m): 7:40pm On Dec 04, 2020 |
WallStreetfx: Yeah. That's a $5000 account we are staring at. |
Re: Forex Trade Alerts: Season 20 by Nobody: 7:43pm On Dec 04, 2020 |
COOL10: the way i see this is to forget the two digits (3rd and 4th) before the decimal point and also the digits after the decimal, your money is the first two digits. its normal with a cent account. |
Re: Forex Trade Alerts: Season 20 by meshpips(m): 7:57pm On Dec 04, 2020 |
COOL10: You ought to have used 0.10 lot size For cent accounts, 0.10 lot size will yield 100 cent ($1) profit/loss for every 100 pips price change. 1.00 lot size will yield 1,000 cent ($10) profit/loss for every 100 pips price change. Etc NNOTE: the above written is true IF USD is the counter currency of the pair traded. 2 Likes 1 Share |
Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 8:04pm On Dec 04, 2020 |
Karleb: Naso bro |
Re: Forex Trade Alerts: Season 20 by coolmanmoney: 8:06pm On Dec 04, 2020 |
1 Like |
Re: Forex Trade Alerts: Season 20 by IMAliyu(m): 8:13pm On Dec 04, 2020 |
Managed to catch 30pips on AUDCAD short. Closed the trade. I'll retake on Monday if there is a pull back. |
Re: Forex Trade Alerts: Season 20 by COOL10(m): 8:27pm On Dec 04, 2020 |
meshpips: God,I'm confused. So how much exactly did I make as profit according to the screenshot |
Re: Forex Trade Alerts: Season 20 by COOL10(m): 8:30pm On Dec 04, 2020 |
XAUTrader4L:. Yea I know that. The only problem is how to calculate the profit. It's so much easier using standard accounts |
Re: Forex Trade Alerts: Season 20 by meshpips(m): 8:35pm On Dec 04, 2020 |
COOL10: You made less than 1 cent. Infact less than half a cent. 2 Likes |
Re: Forex Trade Alerts: Season 20 by Nobody: 8:52pm On Dec 04, 2020 |
COOL10: Your profit is less than 1 cent. Use 1 as lot size. 100 pips give you $10; 10 pips give you $1; 1 pip gives you 10 cents. |
Re: Forex Trade Alerts: Season 20 by kkins25(m): 8:59pm On Dec 04, 2020 |
coolmanmoney:Hehe.. Why not? As long as you no be scammer den join table. 1 Like |
Re: Forex Trade Alerts: Season 20 by kkins25(m): 9:03pm On Dec 04, 2020 |
Mrbillionaire:LOL |
Re: Forex Trade Alerts: Season 20 by IMAliyu(m): 9:53pm On Dec 04, 2020 |
The way USD is has been behaving makes me want to avoid it completely. 1 Like |
Re: Forex Trade Alerts: Season 20 by ProsperoTrading: 10:37pm On Dec 04, 2020 |
COOL10: let me tell you the easy way. You have 5000 cent, which is $50. let's assume you risk per trade is $2.5 which is 250 cent. let's also assume your stop loss pips is 25 pips. To get your lot size, simply divide the 250 by 25 Then divide the answer by 10 and you get your lot size. e.g. 250/25=10 10/10= 1 lot |
Re: Forex Trade Alerts: Season 20 by IMAliyu(m): 10:50pm On Dec 04, 2020 |
After seeing enough annoying binary options broker ads I decided to actually take a look at it, because I don't want to completely disregard something without actually having any knowledge of it. My impressions of it are it's as if betnaija and Forex decided to have a child. I can see why it exists, it's for someone with a high risk tolerance, low patients, knows a bit about trading and wants to make/lose money fast. All you need is to guess the direction of the market in a given time frame of your choosing. If the contract expires in your favour you win a percentage and if not you lose your money. The option to sell the contract in a loss or profit before it expires also exists. The problems here that makes this feel like gambling is the time factor, your analysis of the general direction of market can be correct, however you can still lose if your time guess is off by one minute. Another issue is the risk to reward ratio. You basically risk more than what you are getting. The highest I've seen is a 90% and lowest 10% return. So you basically risk say 100# to get 90#. So if the trade goes against you lose the whole 100#. So your strategy better have more than a 60% win rate. The app of the broker I decided to experiment on "IQ option", consumes your data like no tomorrow. In the 3 days I had it on my phone thing used up nearly 1gig. Note: IQ option also offer regular Forex trading, but I don't know if I'll be recommending them. The thing is enticing. Was able to raise the demo account by 30% in 3 days of testing, I will probably empty it if I continue for like a week. Anyway I'm not in any place to tell anyone what to do with their money, this is just my experience and impressions of it. Just know that the odds are even more against you here, even more than forex. 2 Likes
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Re: Forex Trade Alerts: Season 20 by COOL10(m): 11:08pm On Dec 04, 2020 |
I appreciate everyone who took out time to respond to me. Na me dey confuse myself since Anyways, this is what I understood from your responses and my further calculations: In a Cent account : 1 lot equals $0.1 per pip 0.1 lot equals $0.01 per pip and 0.01 lot equals $0.001 per pip. This means that a cent account is simply an equivalent of a 0.01 micro lot in a standard account. The only difference is the representation in cents. Correct me if I'm wrong 1 Like |
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