Learning

Beginner Questions
1

I am new to trading. I have a demo account. I am having two problems with putting on a trade.

(1) When I see what I think is a good trade by the time I calculate my profit and stop loss from my entry point, often the price has changed from my selected entry price, the market moves up or down.

(2) How are pips added or substraced to place a trade for profit and stop losse. For example:

I want to go long on a pair for 20 pips. My entry is 1.5000. How do I calculate pips for my take profit, close my position, and stop loss.

1.5000 + 20 = 1.5020 or 1.5000 + 200 = 1.5200.
Stop loss 50 pips: 1.5000 - 1.4950 or 1.5000 -50 = 1.4500

How is the Yen calculated in the same sceniro

133.640 + 20 = 133.660 or 133.640 + 20 = 133.840

I realize my questions may sound stupid to those who know this stuff. Learner21

2

(1) Calculate after you enter, you should have plenty of time

(2) 20 pips is 20 not 200. You add 0.0020. For Yen pairs add 0.20

3

ya do what he said, just enter the trade first then add your SL and TP

also remember one pip is .0001 so 50 pips would be .0050 if your entry is 1.5000 and you want a 50 TP and a 100 SL your TP would be (assuming long) 1.5050 and your SL would be 1.4900 the only time you really shouldnt simply just enter a trade w/o pre entering your TP or SL is when your scalping and going for a relatively short target because your target may be hit before you have time to enter it

4

Are you saying to execute the trade when I think its a good to enter, and then to modify the trade in the trade teminal?

5

Not at all. Enter the trade. Then enter your stop loss order. Then if you see the profit you want, exit the trade and cancel your stop loss order.

6

if u are using MT4 then you would enter the trade when you think is best based upon your system then in your terminal (if u are using MT4) you would right click the trade and click modify then enter your stoploss and takeprofit, if you arent using MT4 its probably different

7

I am sorry, but what do you mean when you say “enter the trade?” It’s my undersanding that when I execute a trade, I have entered the trade at the current price. Then, I can modify it for take profit and stop loss. Thanks for your patience.

8

You execute one order to enter and execute another order to exit.

9

entering a trade is the same as executing one interchangable words
when you execute a trade such as a buy you are entering a long position

10

To recap. I am using a MT4 platform. I enter the trade. Then I modify it with my profit and stop loss. Adding and substracting pip. Enter price 1.5000 + 25 pips= 1.5025. Yen

133.34 + 25 pips = 133.79 Thanks for your patience. Learner

11

exactly :stuck_out_tongue: