View Full Version : FOREX:Euro -USD pair. Can any one help please?
fxnewbie
12-22-2007, 12:26 AM
In FOREX Trade, when I trade Euro-USD pair, there is ALWAYS difference of 3 points, for example if I buy, I have to buy ( for instance at )1.3144 and if I sell the same, I will have to sell at 1.3140. What this means is that the moment I buy currency. I am already down 3 points and of I have to EARN a pip, the currency must move up at least four points just to gain a pip and on the other hand I am already down 3 points the moment I enter the trade! Doesn’t this mean that the CHANCES OF MAKING MONEY ON CURRENCY TRADE ARE JUST 1 in 4 or a meager 25 percent!!!!!!!??????
I am new to FOREX trade , so can you please give me FOREX trade tips- which currency pair to trade and which not to.
plasma
12-22-2007, 10:18 AM
In FOREX Trade, when I trade Euro-USD pair, there is ALWAYS difference of 3 points, for example if I buy, I have to buy ( for instance at )1.3144 and if I sell the same, I will have to sell at 1.3140. What this means is that the moment I buy currency. I am already down 3 points and of I have to EARN a pip, the currency must move up at least four points just to gain a pip and on the other hand I am already down 3 points the moment I enter the trade! Doesn’t this mean that the CHANCES OF MAKING MONEY ON CURRENCY TRADE ARE JUST 1 in 4 or a meager 25 percent!!!!!!!??????
I am new to FOREX trade , so can you please give me FOREX trade tips- which currency pair to trade and which not to.
That 3 pips is the spread that the broker takes so he can buy shoes for his kids. He has many kids, as you can tell. Shop around, different brokers have different spreads. Sometimes the spread changes during the day. Yes, trading is an up-hill battle, and it's your job to pay for those shoes.
It's my job to pay for my own shoes too. So I have to buy shoes for two families. Hence, FOREX trading...
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