I use to work in a forex firm and somehow wanted to learn how to manage an account,so i opened a demo account, through some research i was able to understand almost everything in the demo account ,the leverage was 100:1 , the equity was 25,000 , the pip value was $10 (100000 x 0.0001=10), but now when i wanted to open a real account and started asking of what other leverage options i have like 400:1 or 50:1, with all the informations the companies where giving me i got confused as if i was wrong from the beginning.Can anyone tell me:
why is 400:1 leverage considered risky even though less margin is required than a 50:1?
2)if a pip value is determined by the position size,what is the use of a leverage?
For a $1000 equity how much leverage is recommended,and how much will be the margin requirement and how much is the pip value ?
I understand they are a lot of questions guys ,but sorry i need the answers since i was doing a lot of research online and my head is about to explode:confused::)
In2Blues - you are soooo much more patient than myself. I feel bad for ya man, you are always referring people back to the babypips school. Your a very nice guy to do that! I’ve lost patience personally. I think we need to get a stickied thread where we answer EVERY noob question and just direct them there.
Like if you have less than 5 posts, you must read this thread before each new thread is created.
Thanks daedalus. I think I’ve gotten a bit more patience in my old age. NOT.
Actually, it’s just that my usual sarcastic “why don’t you use your brains and do something for yourself instead of expecting everyone to hand you success” doesn’t seem to go over well with some people. Go figure.
I think you’re right, though. The programmers should change things a bit. Maybe, before anyone can post, they should be required to not only complete the school, but pass a test based on newbie questions. Only after they’ve gotten at least, say 80% right, will they be able to post in the forum.
That might make people do some actual research and learn on their own instead of asking others to hand them the answers without any effort on their part.
But it’s not a prerequisite of this forums that you need
to do your time on “NEWBIE ISLAND” to answer questions
which are posed here.
Not the last time I checked anyway.
That is surely the point of this forum, “NEWBIE ISLAND” for
newbies to find out where to go next.
Is it not also a part of the whole concept of babypips
that newbs can come here & get questions answered, where
on other forums they would be sneared at.
I would say if it insults anybodies intelligence to read these
posts then don’t come in here, there are plenty more places
on Babypips forum to read.
I know this is where they should come to have questions answered, and I fully respect and support that, but to be asking questions in the newbie section that are clearly answered in the school is what I find frustrating.
I like helping noobies, which is why I come in this forum and try to answer questions, but after the 3rd or 4th margin question in a couple days I just get frustrated because it shows me that the person asking the question doesn’t have the patience or dedication to read the school before asking questions.
for expressing your view in regards to those “know all” who have no life but to be glued here to newbs and insult anyone that ask for help. If they do not wish to answer the question it is much more polite to refrain than insult.
Babypips is not a God or sent from God …it is a simple introduction to fx ,and if someone after reading it still needs clarification, should not fear to coming here and ask for help.
Yeah, I’m gonna have to agree with you and daydreamer here.
Although i definitely understand how answering the same question over and over again can become a nuisance the important thing is not to let that show on the screen. If it does, babypips forum might quickly become the last place a newbie goes for advice or to get questions answered.
If it is clear that the person has not taken initiative to go through the school and spend some time reading through the various threads, then just don’t answer the question. Sure enough there will be someone else to. But there is no need to make someone feel like their idiots or that their wrists are getting slapped the first time they post a question.
It’s not a matter of someone being a “know it all”. I certainly don’t know it all. Not even close.
The point is that, while we should all certainly help each other as much as we can, we also have to take responsibility for our own education and progress.
Yes, clarifications are quite often needed. However, that doesn’t mean that someone should expect everything handed to them without doing any work for themselves. When someone asks the same question that gets asked repeatedly, it usually means that they haven’t even put forth a minimal effort to look in the school or do a search. If someone can’t even do that for themselves, then they’re not looking for help. They want everything handed to them so they don’t have to do it for themselves. Those are the people I’m talking about.
Posts like “Where can I find this indicator and what does it do?” or “Here’s an EA. Can someone test it for me and tell me how to use it?” or “What broker is best?” are examples of people who are want everything handed to them and don’t want to take the time to find the answers and actually learn something.
And, before you get your panties in a knot, I’m not necessarily saying that sporontinno (who started this thread) is lazy. It just seemed that he was asking questions that he might have found answers to in the school and I wanted to point him in that direction. It just surprised me that he would ask such questions when he said he worked for a Forex firm.
It’s attitudes like yours that have caused a lot of good people to stop helping newbies. Rather than whine about someone being a “know it all”, people need to start doing some things for themselves so that, when questions are posted, a clarification can be given, not the same answer for the 500th time.
Don’t worry. I’ll be careful not to “help” you in the future with my “know it all” attitude. After all, there are plenty of other places to surf while I’m glued to my computer.
I was simply saying that he could find this information for himself, and then gave him the link. Suggesting someone search for themselves is not insulting, it’s empowering.
I noticed that you do the same thing. Here, for example:
In2Blues my post was not aimed at you, in fact your
responses generally do follow on the same lines as mine.
(I have a list of required answers)
What I was trying to convey was the point that this is
"newbie Island" This maybe the 1st time some folks have
contributed to a forum, they are not sure of their way,
English may not be their 1st language, would you trawl through
a Chinese forum looking for answers? et al.
I would not know where to start.
So some leeway has to be given to folks in this situation,
they do not need ridiculing, or bullied, that will drive them
away the same as from other noted forums I can think of.
I have been involved in a few forums over the years & the
greatest killer of these forums was posters who adopted a
holier than thou approach to newbie questions.
Yes it can become tedious answering the same question time
after time & it can become sole destroying, the greatest prize
is receiving a thank you (to some of us that is, I will not open
a discussion here about other forms of reward for answering
newbs posts) but that is the nature of the beast.
I was just, badly as usual, trying to make a point that we should
not get into the habit of ridiculing newbs for the sake of it.
As can be seen from this thread the smallest of comments can
sometimes open up a whole new discussion.
Just like e-mails, forum posts don’t really allow for tone of voice, so things get taken the wrong way. No offence meant nor taken. I see you helping quite a bit in here, so keep up the good work.
:)
