Hello, I am new to forex trading and have been thru the babypips school which is fantastic.
I am having trouble working some things out. It does not seem to add up to me.
Yesterday I took a buy trade on demo account on GBPJPY. My account is in USD.
I used this lot size calculator to work out my position size based on account balance of $3400
see pic
This is the trade taken on MT4 platform with my demo broker account with Trade 24
According to the lot size calculator each pip is worth approx $2
Yet my trade only made $4 profit.
I really confused and need some help as this to me is mst important step in trading. Working out position and lot sizes.
Any help is much appreciated.