# Understanding FX accounts, lots & pips at 100:1 leverage?



## danielsan (18 December 2010)

Hello to all,

I am a newbie to trading, I have had some confusion as to how specific fx accounts and their lot sizes and cost per pip at 100:1 leverage is understood?

See my understanding below, am I close? 

Std Account-  1 std lot   =$1000 cost per pip $10    Leverage 100:1 ($10 x 100 = $1000)  $1000 controls $100,000

Mini Account-  1 mini lot  =$100  cost per pip $1     Leverage 100:1 ($1 x 100 = $100)    $100  controls $10,000 

Micro Account- 1 micro lot =$10   cost per pip $0.10  Leverage 100:1 ($0.10 x 100 = $10)  $10   controls $1,000

Nano Account-  1 nano lot  =$1    cost per pip $0.01  Leverage 100:1 ($0.01 x 100 = $1)   $1    controls $100             


I appreciate anyone's help/comments


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## Boggo (18 December 2010)

Try this
http://www.forex-training.com/pip.htm


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## danielsan (18 December 2010)

Thanks Boggo, I will check it out.


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## pma99 (21 December 2010)

danielsan said:


> I appreciate anyone's help/comments




Also worth a look...

http://www.babypips.com/school/

Paul


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## danielsan (22 December 2010)

Hi Boggo, 

Thanks again for the link on How to Calculate Pip Values, I checked it out and saved it for future reference as well. 

I recently opened a demo account and I rang the broker and quizzed him about my question, he said my examples made sense.

Hi Paul,

Yeah Babypips is a cool site, I am working my way through the School of Pipsology at the moment.  I have also been following the ongoing Cowabunga trade system blog that they do there.

I am currently reading a book from Aussie, Brent Penfold, called The Universal Principles of Successful Trading, its awesome! well worth a read, I am happy to be gaining the knowledge of money/risk management prior to putting my hard earned on the line

Cheers,
danielsan


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## Boggo (22 December 2010)




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## danielsan (27 December 2010)

I recently came across this similar thread, 

https://www.aussiestockforums.com/forums/showthread.php?t=11793&

I thought it may be useful to other newbie's, in particular Tayser's example post and the book that he recommends.  I will be off to the book store later this week, let me know if you would like a review of the book, once I have read it of course


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## danielsan (27 December 2010)

danielsan said:


> I recently came across this similar thread,
> 
> https://www.aussiestockforums.com/forums/showthread.php?t=11793&
> 
> I thought it may be useful to other newbie's, in particular Tayser's example post and the book that he recommends.  I will be off to the book store later this week, let me know if you would like a review of the book, once I have read it of course




I just realised that the book that is recommended by Tayser is available from the ASF online shop, so I will buy it from there and support this great site


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## Market Depth (27 December 2010)

Easyforex, has a very basic free simulator, that lets you practice or just watch and learn, sometimes just watching something trade for quite a while, can give you a feel for price movement. But don't forget a rock solid trading plan, before you put up your hard earned.

http://en.easy-forex.com/evo/au/tradesimulator.aspx


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## danielsan (9 January 2011)

Market Depth said:


> Easyforex, has a very basic free simulator, that lets you practice or just watch and learn, sometimes just watching something trade for quite a while, can give you a feel for price movement. But don't forget a rock solid trading plan, before you put up your hard earned.
> 
> http://en.easy-forex.com/evo/au/tradesimulator.aspx




Hi Market Depth,

I will checkout the link and give it a go, thanks.


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