93. How to Calculate Forex Trading Profits and Losses

[sagar2807]

awesome

[AbbyWorksTP]

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[laton2010]

Thanks great video. Forex is easy actually i am making tonnes of money

[gdub12345]

Noob Q; where does the cash come from if you make a profit, e.g. I put 200 dollars on EUR becoming stronger than the USD and it does, and I say make 210 dollars back so 10 dollars profit, does it come from a company who are effectively betting that you wont make a profit but will lose money or does it come from other people who bet the other way on that currency pair? Also once you have bought in to the position and see a profit can you just stop and take the profit or is there a contracted time

[TakeYourProfits]

@gdub12345 it comes from whoever took the opposite side of the trade. it could be a company or it could be an individual trader, or it could even be a bank. it can be any one of the hundreds of millions of people who trade the markets across the globe. my question to you is, does it even matter? as a trader you should focus on your profits and your risk and thats about it... well, that is if you want to be profitable anyways.

[TakeYourProfits]

@gdub12345 as far as your second question is concerned, you can TakeYourProfits or CutYourLosses whenever you CHOOSE to stop putting your capital at risk... there is no specified time that says you HAVE to hold anything... even options contracts can be bought or sold at will, the only thing you would have to worry about with an option contract is the expiration date... but if i were you i wouldnt even look at options right now... stick to basics first... i hope that helps...

[TakeYourProfits]

@gdub12345 if you have any more questions feel free to ask me on the forum on my blog. the link is: takeyourprofits[dot]com/forum/

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[zsafws]

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[forexsystems]

good information, thank you

[blackberryjuice1]

Just a warning everyone. I've purchased Peter Bain's course as well as three other trading systems back in 2003-04 and have been attempting to trade forex for five years. My account balance is still below $100 even though I'm trading microlots. Forex is not get-rich-quick and you can spend years and still be unsuccessful despite buying several trading courses...

[tumadoireacht]

i am day trading for 4 months - started with 2,000 euro -now have balance of 22,000 dollars but it takes vigilance and rolling with the losses .

[SapereFX]

@tumadoireacht Nice work.

[amenrah7]

Sounds like your pip values are too small. With a $100 you're making $1 per pip or less correct? Conversely, if you're able to trade at $10-$20 per pip you would hopefully, using sound judgement and proper money mgmt, see bigger profits.

[SapereFX]

@amenrah7 With a $100 account you can't trade at $10-20 per pip as you don't have the required margin for the trade, it doesn't even give you enough for mini lots, which is why blackberry is trading micro lots which are 10 cents per pip on the EURUSD.

[Budma30k]

My pip value is a Dollar not ten dollars.

[pjblabla]

your's must be a mini not a standard account

[westpb01]

So have I got it correct in saying that if you make a purchase of the 'AUD/USD', of one contract size, I would be buying $100,000 Australian dollars.

And...one pip movement would mean 0.0001 USD in order to buy one Australian dollar, which would then need to be convertedt back to Australian dollars to asses the p/l you have encountered so far?

[davidoffnow]

Hi dave, how long do you think a trade ,has to be held before?

[retharford]

hi Dave ,, really enjoyed this lesson , i wanted to know does the pip cost vary when trading in a different type of account . eg trading in a mini account where the lot = 10000 ? i think the pip cost will be $1 if US is the counter price right ?

[PAGGIzx]

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thanks for sharing good stuff man

[gaijinyakuzza]

hey great videos, do you have any tips on how to make good profits i am barely breaking even i have too many pips help.

[horsefly4]

what does he mean by 3 contracts?

[InformedTrades]

Hi Horsefly4, When trading with most retail forex firms, they standardize the amount traded into contract sizes of either 1,000, 10,000, or 100,000 of the base currency. So in the above video when I say 3 contracts I mean 3 lots or 300,000 of the base currency. Best Regards,Dave