Quote:
Originally Posted by veloman
So I just got a demo account with Oanda. If I use my full buying power, it's $1100 or so per round trip..............how the heck do you make a profit with a spread that big? Or is it just becuase it's a slow time at 12am monday?
With about $25k trade value, it cost $10.....so I guess that's better....but wow...daytrading forex looks real expensive. IDK, maybe its just me... I know about nothing so far, looks fun though.
Okay, this is what I'm talking about. The spread size versus the price movement is HUGE compared to stocks. yeah, this is why it seems so hard to daytrade them.
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Hiya,
Well pip spreads on weekends are usually a bit wider but they tighten up as markets open...depends on the pair though too. Some pairs can move hundred pips on a sneeze.. others may only move 50 or so... Depends on the pair..
But if your new and trading on a Demo--it means you probably got the $100k play money full account size? That means you risk $100 per pip on full size Lots. If so--its fun to play with but realistically the pip values most folks play for for rreal here are typically $1 to $10 per pip..
Have you checked out
www.babypips.com yet? Its a great free "forex basics" site to get folks to understanding Forex and trading basics by goin thru their "levels" of school... Usually suggest new folks begin with a demo to play with and also read up on babypips.. But any questions or confusion--just ask...we're here to help ya learn this great trading game and addiction called Forex.
-w
