Your account is funded with a currency.

[Gee Dee]

In the event that your account is funded with a currency other than the U.S. dollar, a similar pip esteem sums apply when that currency is the quote currency. For instance, for an euro-denominated account, the pip worth will be 10 euros for a standard lot, 1 euro for a smaller than normal lot, and 0.10 euro for a miniaturized scale lot when the euro is the second currency in the pair. For pairs in which the euro isn't the quote currency, you would isolate the typical pip an incentive by the exchange rate between the euro and the quote currency. 

[Vaabum]

To be honest, I don't really see the point in this. What's the point?

[FXOpen Trader]

On 7/20/2022 at 7:05 PM, Vaabum said:

To be honest, I don't really see the point in this. What's the point?

We have to select the correct currency for our Account Equity.

[sacolo9459]

This whole currency conversion for pip value can get confusing! I much prefer having my account in USD. It saves me the hassle of figuring out exchange rates every time I want to see how much a pip movement is worth. Sure, if I have a euro-based account, I can calculate it based on the exchange rate, but wouldn't it be easier if everything was just in USD from the best assignment writing services reviews start?

[boltushkin]

On 12/28/2019 at 6:02 AM, Gee Dee said:

In the event that your account is funded with a currency other than the U.S. dollar, a similar pip esteem sums apply when that currency is the quote currency. For instance, for an euro-denominated account, the pip worth will be 10 euros for a standard lot, 1 euro for a smaller than normal lot, and 0.10 euro for a miniaturized scale lot when the euro is the second currency in the pair. For pairs in which the euro isn't the quote currency, you would isolate the typical pip an incentive by the exchange rate between the euro and the quote currency. 

Achieving decent return per month in trading, like 30%, is possible but highly challenging and risky. Such high returns typically involve significant leverage and exposure to volatile markets, which can lead to substantial losses. Consistent long-term success at this rate is rare, and it's crucial to prioritize risk management and realistic expectations to sustain profitable trading over time.

[bigxy]

When we start forex trading, it is better not to go for the returns rather we need to focus on building our skills that could lead us make some healthier returns in future.

[boltushkin]

On 9/15/2024 at 2:41 PM, bigxy said:

When we start forex trading, it is better not to go for the returns rather we need to focus on building our skills that could lead us make some healthier returns in future.

Yes, better to focus on improving your system rather than money, this is the greatest tip I learned from HFM webinars. 

[bigxy]

I see brokers are contributing toward traders' education by providing quality webinars which can be accessed online in case you missed them.   

[boltushkin]

On 10/28/2024 at 8:45 PM, bigxy said:

I see brokers are contributing toward traders' education by providing quality webinars which can be accessed online in case you missed them.   

Yeah one of the useful in my view is offered by HFM they cover many aspects including trading mindset, risk management, algorithmic trading, etc.