May the forex be with you...

I thought for sure you woulda cleaned up today guys...

Im shrt $/JPY 92.22..

Whats up Wager...glad our threads got you interested..

The bid ask price arent that far from each other most of the time..say 3.5 pips average..it varies but most pairs move over 100 pips per day some alot more..so the spread isnt a big deal to me but there are brokers who offer a better than others and theres options for fixed spreads...

Pips in a standard account are $10 each per lot...so if i have 3 lots its $30 per pip..there are micro account where pips value goes all the way down to .10 per pip..

When trading this market you just have to keep free money in your account for margin,measures amount of pip movement against you b4 they close your trade and cash out your loss...so i start trades with a limited # of lots so i can add more  if the price moves against me....

Lots prices vary depending on value of your pips..say you open a mini account with 3k and you enter a trade of EU/$...starting with 3 lots youd have $300 or so of your margin in that trade..and youd be looking at $3 per pip..

I average using trend lines,support,resis and fib lines..averaging a trade is different every single time because of market conditons,RSI,moving averages and so on..

I think 250 pips a week to start maybe more...depends on the trader...hell i left 140 pips in the last trader i was in but didnt want to leave it open while i was sleeping...im in JPY now and im looking for prob 70 with 2 lots..

Its all in the charts..if youve traded stocks the charts will tell you what do..open a practice account,[every broker offers them free]practice trading for a few months to figure out price action,the lingo,margin limitations and all the other crap

we are here to help

we put a new thread up Pap...June edition

13668 or around there should be the 61.8 and would complete the retrace unless it goes for 100%...i havent pulled the fib since last week but it should be in this thread...maybe 4 pages back???