For all the sifus here, please give me some advice before I commit my hard earned money..

1. Learn by myself on how to trade,
Outcome/results: uncertain, or learn by mistakes.

Or

2. Join my friend in a forex group. Education, group discussion provided. Earn also by referring to others and earn commission(become ib). But need to open acc at least 10k.

Which one u guys will choose?

Thanks for all the replies above. My friend is telling me this group exist for more than a year,(I don't know if I'm allowed to say the name here) and I will be depositing my money straight to the oversea broker not any 3rd parties ib. Of course they earn alot, and I guess half of it are from ppl joining them/spread. I also shocked when they are all 20ish and driving expensive cars.. My friend is a trustable friend, that's why I keep on thinking twice as he also keep saying he wants to help me. But of course I'm also afraid if anything happens and we all can't get our money back.

Thanks for the advice. Yea I'm currently learning the basics from babypips as suggested in this thread. Just like u said best insurance is that I know what I'm going into, that's why although my friend asked me to join first and then there will be ppl training me 1 on 1, I still don't feel confident.

Yea I know many ppl when they see a person got alot luxuries, then they tend to join them without knowing how things works actually.

Yea I saw alot screen shots like those, but don't know how to understand all the numbers yet hahaha

Yes for the former and not sure for the latter.

Demoing for the first time, learning the basics and also trying to familiarize with basic buying and selling. But I have parts that I'm very confused..

1. When I choose 'volume' 1.0, what does it mean? From what I saw my 1 pip = 10$?

2. Before I buy or sell, the value of spread keeps changing, how do I know which one is the spread they charge me?

3. Is there a maximum duration to hold on the pairs? Is there any recommendation or its solely depends on what type of traders you are?

Thank you in advance...


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So when is my spread amount decided? When I place my order? Or when I decided to stop loss or take profit? And where do I see them? Coz like from the screen shot I can't see where is the spread amount.

And if there's no duration to hold, why don't all the ppl just keep waiting until they reach back to winning position if they are losing?

If I'm very free, what strategy do u suggest?
Er then how much is the value of 1 unit of currency? Haha.
And those strategy ar..I called them total luck and speculation haha..I don't know any strategy yet la..was just trying to test how to buy and sell..

[quote=tshin810,Aug 8 2013, 06:39 PM]
On the chart, right click -> Trading -> New order. You can see the spread on live. Spread is decided when you execute an order. If you long for price of 1.50000 and you get 2.5 spread, you will see price of 1.50025.

If you interested in lot price calculation, you should go read babypips.com.

Yea I'm in the school of pipsology now haha.. Never expected it to be so much things to study!

I see so it means that the price shown when I execute a buy/sell is already added/deducted the spread?

And other than spread is there any other charges?

This is my demo today, after the big mistake -200$ plus I tried to trade more conservatively..

I was using the bollinger bands, RSI and stochastic oscillator, but actually I'm really not sure am I reading them the right way.. I haven't try using support and resistance yet..

Actually is my method of trading ok? Coz I only aim for around +-10pips.. While I see u guys all have like 50 or 100 pips above.

And one more question, lets say mine have 5 decimal points and the spread is 5. Then the 5 is equal to 5 pips or 5 pipettes?


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So the spread they showed is 5 pipettes or 5 pips?

Haha thank you guys..now I understand, and I guess the profit/loss shown is already included the spread, coz when I'm closing the trade there's 2 numbers shown..1 should be the market value 1 is with the spread.
So today no trade?

I'm a demo trader too, but always dreamt of the demo profit is real...XD

So ProperTYcoon are u a full time trader?

Today no 'practical', time to spend more time study in pipsology school..

+-70 pips today..mostly on usdjpy pair..too bad it's only demo...

Ah nice nice.. u doing both demo and real? The demo will help your live trading or not? Like indicators or something?

Lets say Usd strong against Jpy, and CAD around same strength as Usd, then can we assume that CAD will be strong against Jpy as well?

This post has been edited by Jeck10: Aug 13 2013, 12:28 PM

I see..thank you very much for the explanation..

PARTYYY!!!!!


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Useless one..demo only haha..

Haha of course if real account won't be like that..
Need to learn to be confident yet not greedy, that's the difficult part to master..

Yea that's wat I'm really scared about..

Yea it's exactly the same like ppl at genting lost all their money, then want to borrow money to win back what they had lost, and ended up lost everything..

Thanks so much for the advice, really appreciate and will remember them..
Today is not really a good day, still waiting for them to go my way..confident with my decision but currently 4 trades in red...:s really testing my mental haha.