4x For Dummies

Beginner Questions
1

Aloha everyone I am an absolutely brand spanking out of the box wrapper still on newb to Forex trading. I live in sunny Hawaii where I have recently deciding to dabble in Forex. I have been in real estate for the past 6 years and have had my shares of profits and now recently unbelievable losses!!!

I am currently going through to school of pipsology and boy it’s like learning to crawl again!!!

If there are any other newbs out there that would like to go through this crawling phase with me please email me and we can help eachother understand all this mumbo jumbo.

2

Hi 4xnewb,

I am a newbie too.I am from India.I started learning from about a month ago.I started demo trading for about a three weeks now. I do have lots of resources with me.I primarily trade on the GBP/USD pair and sometimes EUR/USD.I am trying to follow only a single pair so that I can understand how the pair behaves each day.I would be glad to share info with you.
I suggest you read the School of the Pipsology and then learn the Cowabunga System and the NickB method of trading atleast for a month.
You would find both the systems in the forums.

3

The GBP/JPY moved so much , If I was in a $1000 trade and it moved 7000 pips over this kind of crazy times how much will the account be worth now

4

Well i don’t think it’d move 7000 pips. That’s a HUGE number for it to move. Maybe over months and months it’d do that, but not likely.

But as for the question, it all depends on the lot size. If you had 1000 and opened a trade with a lot size of 100,000, then it’d be 7000 pips x $10. Which would be 70k. But that’s assuming a lot.

5

How is it in sunny Hawaii?

Oh I miss the days. Kailua on Oahu was the first place my wife and I called home while I was stationed at MCBH Kaneohe, Bay.

We have very fond memories of Hawaii and mean to go back someday to visit.

Don’t hesitate to email me with any Forex questions.

6

virtecs,

A 7000 pip move on GBP/JPY happens faster than you think. It’s moved 5000 this month, with 2000 of that being done in a single day! Looking back in my charts a 7000 pip move in a month has happened a number of times.

7

Wow that’s pretty smart. I recently got a call from ACM which I think is a brokerage and they are willing to go over things on the phone with me to help me better understand everything. I am also going through the school too I’ll probably have alot more questions when I am done.

8

Don’t come back to visit!!! You gotta come back here to live!!! There’s no place better to live imho the weather the people the food!!!
Thanks I appreciate that. How long have you been trading and did you start with alot? Also do you make a pretty good income?