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Trade Size Management
How to Determine Proper Position Size When Trading Forex, Metals, Futures and Stocks
Jimmy Putnik
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eBook - ePub
Trade Size Management
How to Determine Proper Position Size When Trading Forex, Metals, Futures and Stocks
Jimmy Putnik
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About This Book
Your trading strategy is Great; But your money management is Failing you.
We all know that 95% of traders lose money. The truth is that this has nothing to do with their strategy, Its all about money and trade size management.
An avarage profitable trader has a win rate of only 50-55%. They have Mastered the skill of money management and so should you.
In this course you will learn: -
The difference between Profitable traders and Losers; The simple secret you should know
Trading is a 50/50 chance game; How to make that work in your favor.
Allign your trading to your goals; to eliminate guess work and panic trading.
And of course, in all this we will handle the math of trade sizing and management.
This is the Bridge to your future profitability.... get your copy now!
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UNDERSTANDING BASIC TERMINOLOGIES
WHAT IS A PIP
What is a pip? In order to trade successfully you need to understand what a pip is and how to calculate its value. A Pip stands for
percentage
In = smallest price change
point
It is the smallest price change that a given exchange rate can make. An increase or decrease in pips represents a profit or loss in your Forex trade. Let me explain further. When currencies are quoted they are mainly quoted to the fourth decimal place, this is also true for silver. Exceptions of pairs that include the Japanese yen (JPY) as well as commodities such as gold, oil Brant and gas which are quoted to two decimal places.
When we look at the EUR/USD pair and see it move from 1.3130 to 1.13131, it has moved 1 pip because the fourth decimal point has increased by 1.
A 1 pip move for the USDJPY we can see is 77.60 to 77.61 because the second decimal point has increased by 1.
In major pairs quoted against the US dollar we calculate the value of a pip as follows
The EUR/USD has an exchange rate of = 1.3130
If one pip = 0.0001
We divide
which gives us a pip value of ā¬0.0000761
Letās turn this into a forex deal to see what the Pip would represent in either a profit or loss.
Deal 1: Sell ā¬100,000 worth of EUR/USD at 1.3130
Pip value = ā¬0.0000761 Ć ā¬100,000 = ā¬7.61 ($10)
if the deal is closed at 1.3120 with a 10 Pip profit the total profit will be: -
ā¬7.61 Ć 10 = ā¬76.10...