Did I really make $800?

[griffin]

GBP/USD
Sold £500,000 @ $1.6135 ($806,750)
Bought £500,000 @ $1.6119 ($805,950)

$806,750 (which I got for the £500,000) less $805,950 (what it cost to buy them back) = $800 profit, is that right?

Is that it? Is it really that easy? Surely not.

I gotta be missing something...

[fourstar]

16 pips (6135-3119)times 5 lots is: 16x$10/per lot x 5 lots = $800

It's that easy...now do this 100 times over

[svahid]

Griffin,
may I know your broker's name?

[griffin]

Cheers 4*, I just learned an easier way to work it out! Ah well, 99 times to go....

svahid, the dealer I'm using at the moment is FXCM (www.fxcm.com) but I'm not sure if I will stay with them as I believe there is better software (and smaller spreads) from other comapnies.

Any recomedations gratefully received

Cheers

Pete

[dfxtrader]

You can try GFT Forex. Their site is www.gftforex.com.

Leading edge software and mobile trading in the future.
Good dealing and charting software. Very good spreads. Also includes expert fx commentary.

Forex-ice
Simple dealing software and charting.
Big + is their fx recommendations. Their recommendations average $500.00 per day. You need to use good money management skills to trade. You can also trade as many lots as you want. From $10,000 - $100,000.

Both brokers insure client funds ..

Good luck

[abenyukh]

Originally posted by dfxtrader
You can try GFT Forex. Their site is www.gftforex.com.

Leading edge software and mobile trading in the future.
Good dealing and charting software. Very good spreads. Also includes expert fx commentary.

Forex-ice
Simple dealing software and charting.
Big + is their fx recommendations. Their recommendations average $500.00 per day. You need to use good money management skills to trade. You can also trade as many lots as you want. From $10,000 - $100,000.

Both brokers insure client funds ..

Good luck

I checked out www.forex-ice.com and could not find anything about recommendations. Am i on the right site?

Thanks!

[CentralVenus]

The site for the forex-ice recs is forex-dts.com