Hi, i’m a Forex n00b.

I’ve been kicking the idea around about this for a while, but finally see a good oppurtunity to do this now that I have found this site. I am in 2nd grade BTW

As I learn and observe and practice, I am bound to have tons of questions, many of them will be basic Forex 101 stuff, so pelase be patient with me

So onto my 1st question…

- I was watching EUR/USD today for an 90 min. interval.
- EUR gained to 205 pips
- I would buy US100k lot in EUR @ 1.34025 and sell @ 1.34230.

- Would I caculate a pip value (.0000746) based on the buy price of 1.34025?
- I did some math and came to a figure of what the gain on this would be in USD$. It seems to be … US$2050? Is this correct math?

Thanks for the time !

Also, what is a GOOD practice s/w to use?

What is recommended?