WallStreetfx:


We hope to see pips on usdjpy

Closed with partial loss

EURNOk sell confirmed

Karleb:



Swaps are like interest you pay or gain on a pair when you hold a position longer than 24hrs.

They are usually small compared to the profit or lose.

.

Thank you

Crixxx:


I believe you have gotten a legit answer already

.

Yea, thanks

There's a big tussle btw bulls bears in gold market.NFPR will decide d winner but I tend toward d bulls.

lankka:
Flipped my small acc today. Stoploss now set at breakeven. I'll be holding till Friday. Hoping fr it to hit $500. Forex is swt if ur patient enough to learn d skill. Sexy entries too.

Nice one!

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?

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!

COOL10:
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?

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.

Sell zone on eurjpy

anybody eyeing EURUSD??

hidhrhis:

this set up was validated but closed my initial buy at 100 pips
added another buy when i saw a reentry
if price close above 1.64181 i will be adding more buy
if price did not close as anticipated im going to take the 60-70 pips and get out
there is always another time
market really dealt with me this week
lessons learnt

price did not close as anticipated
i will only be looking to buy when price reach my point of validation

AK284:
Please ooo had anyone heared from @infofirst?
Quite a while we seen him online.

Thanks bro. I am doing fine. Been trying to catch up pages. A whole lot have happened for real on the thread. Mixed feelings.

infofirst:


Thanks bro. I am doing fine. Been trying to catch up pages. A whole lot have happened for real on the thread. Mixed feelings.

Hehehehe.

Welcome Boss.

CADJPY

Sell?

Karleb:


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.

.

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...

COOL10:
.

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...

I wish this account was real, I don miss some of our Forex millionaires for here.

WallStreetfx:


I wish this account was real, I don miss some of our Forex millionaires for here.

Yeah.

That's a $5000 account we are staring at.

COOL10:
.

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...

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.

COOL10:
.

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...

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.

Karleb:


Yeah.

That's a $5000 account we are staring at.

Naso bro

kkins25:
anybody eyeing EURUSD??

Am new here.
I am also a forex trader.
Am I welcome??

Managed to catch 30pips on AUDCAD short.
Closed the trade.
I'll retake on Monday if there is a pull back.

meshpips:


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.

God,I'm confused.

So how much exactly did I make as profit according to the screenshot

XAUTrader4L:



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.

.

Yea I know that. The only problem is how to calculate the profit. It's so much easier using standard accounts

COOL10:



God,I'm confused.

So how much exactly did I make as profit according to the screenshot

You made less than 1 cent.

Infact less than half a cent.

COOL10:



God,I'm confused.

So how much exactly did I make as profit according to the screenshot

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.

coolmanmoney:

Am new here.
I am also a forex trader.
Am I welcome??

Hehe.. Why not? As long as you no be scammer den join table.

Mrbillionaire:


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.

LOL

The way USD is has been behaving makes me want to avoid it completely.

COOL10:



God,I'm confused.

So how much exactly did I make as profit according to the screenshot

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

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.

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