FUG MTL COMMUNITY 🦅

Hope we re following?

Next is lot size.

Lot size basically tells us how big our trade position is.

You will commonly hear:

1.00 lot.

0.10 lot.

0.01 lot.

For now, don't worry about memorizing all the calculations.

Just understand that the bigger your position size, the more money you can potentially make or lose from the same price movement.

Next is lot size.

Lot size basically tells us how big our trade position is.

You will commonly hear:

1.00 lot.

0.10 lot.

0.01 lot.

For now, don't worry about memorizing all the calculations.

Just understand that the bigger your position size, the more money you can potentially make or lose from the same price movement.

Another word you will hear is leverage

Leverage allows you to control a larger position with a smaller amount of money.

Sounds attractive, right?

But here is the problem.

Leverage doesn't only increase your potential profit.

It can also increase your potential loss.

So don't hear the word leverage and think is free money.

There is no free money in Forex.

Another word you will hear is leverage

Leverage allows you to control a larger position with a smaller amount of money.

Sounds attractive, right?

But here is the problem.

Leverage doesn't only increase your potential profit.

It can also increase your potential loss.

So don't hear the word leverage and think is free money.

There is no free money in Forex.

Another word you will hear is leverage

Leverage allows you to control a larger position with a smaller amount of money.

Sounds attractive, right?

But here is the problem.

Leverage doesn't only increase your potential profit.

It can also increase your potential loss.

So don't hear the word leverage and think is free money.

There is no free money in Forex.

Lol 😂😂

The part that say there is no free money in forex make me laugh too🤣

How a Trade Works which is the important part

Now let's imagine I have analyzed GBP/USD.

I believe price is going to rise.

So I decide to BUY.

Let's say I enter at:

1.3500.

I don't just enter the trade and hope for the best.

I need to know:

Where am I getting out out am wrong?

And where am I taking my profit if am right?

That's where Stop Loss and Take Profit come in.

😂😂😂I need to make everything clr so they don't quote me wrongg

How a Trade Works which is the important part

Now let's imagine I have analyzed GBP/USD.

I believe price is going to rise.

So I decide to BUY.

Let's say I enter at:

1.3500.

I don't just enter the trade and hope for the best.

I need to know:

Where am I getting out out am wrong?

And where am I taking my profit if am right?

That's where Stop Loss and Take Profit come in.

Stop Loss

A Stop Loss is basically a level where your trade will automatically close if price moves against you.

For example:

Entry: 1.3500.

STop Loss: 1.3450.

If price falls to 1.3450, the trade closes and I accept the loss.

Why?

Because I already decided beforehand how much am willing to lose.

Take Profit

Take Profit is the opposite.

It is the level where you want your trade to close in profit.

For example:

Entry: 1.3500.

Take Profit: 1.3600.

If price reaches 1.3600, the trade closes with profit.

So a basic trade can look like this:

Entry → Stop Loss → Take Profit.

Depending on the situation

I understand you sir 😁

It only just sound funny

Stop Loss

A Stop Loss is basically a level where your trade will automatically close if price moves against you.

For example:

Entry: 1.3500.

STop Loss: 1.3450.

If price falls to 1.3450, the trade closes and I accept the loss.

Why?

Because I already decided beforehand how much am willing to lose.

Take Profit

Take Profit is the opposite.

It is the level where you want your trade to close in profit.

For example:

Entry: 1.3500.

Take Profit: 1.3600.

If price reaches 1.3600, the trade closes with profit.

So a basic trade can look like this:

Entry → Stop Loss → Take Profit.

Depending on the situation

Yh same here too 😂