pips $10

[moynul]

Hello
Dennis carr, and readers. Hope you all are fine. I want to know that when do we make $10 in every pips? I have a account just opend recently with platinum \education resone\, just the amount for platinum. I trade but can not see the pip as $10 but its way more less. maybe that i dont know how to work with leverege, account may be to small or was that a mini account?:rolleyes:
Or will i need $0000 to deposit?
Please can you help me in details as i can understand.

P.S The course is activated. Thanks:p

[Dennis]

Hello Moynul

Glad to hear that you finally got access!

The value of a pip (or point) all depends on what pair you're dealing with and how big your position is.

With pairs that do not have USD as the base currency (eg. EUR/USD; GBP/USD AUD/USD) it's pretty straightforward.

If your position is 1000 of the base currency (0.001 in Rumus) each pip is worth 10 cents
If its 10000 (0.01) each pip is worth $1
and if your position is 100000 (0.1) each pip is worth $10.

It's slightly more complicated when the buck is the base currency (eg. USD/CHF; USD/JPY) as the value of a pip fluctuates with price.

This video explains the calculation (http://www.youtube.com/watch?v=ls24N_9YRlg&feature=related)

You can check the current price of a point by clicking Extension on R2 Trade Terminal and then selecting currency info. Please note that the pip price is for lots of 100000 (see attachment). I have drawn an arrow showing the current price of a USD/CHF point.

So a quick answer to your question is that if you want your pips to be worth 10 dollars, you should open up positions of 100000 (0.1) You should only do this if you have a pretty sizable amount in your account.

You can find more info about pricing a pip in Colt FX module 1 The Point

Hope this helps Moynul and once again: welcome aboard!

[moynul]

Thaks dennis carr
Thanks for the information.
Really it was a great.
The ansewr was verey clear.

Also can you tell me that what time on sunday do you post the news to us (news forex)?

take care

[Dennis]

Hello Moynul

Glad the explanation made sense.

The Market review video should be up in a couple of hours time. I post a link on this forum (http://www.coltfx.com/forum/showthread.php?p=431#post431), load the Forex Club's channel (http://fxclub.com/analyze-forex/) and it goes out to subscribers (http://www.youtube.com/user/fxclub). Forex Club also send out a mailer with the review which comes out a few hours later.

The newsletter comes out on Monday.

All the best

Dennis