Thread: How many pips do you need to convert $50 USD to $1000 using just 0.01 lots?

For some reason, the concept of lots and leverage totally confuses me. Basically because I feel like I’m fine with my money management. I mean, right now I don’t focus on leveraged my money. For now I just want to learn. If I can’t win without leverage, then leverage will be a disaster. So, out of curiosity, how many pips would I need to convert $50 to $1000 if I only operate with 0.01 lots per operation? Another question... what’s the biggest amount that someone has taken an account of less than $100? I love forex. Someday, he will love me back.

1000-50=950 950/10=95 95/0.01=9500 pips My best operation is the next operation.

1 lot = 1 pip ~ $10 0.1 lot = 1 pip ~ $1 0.01 lot = 1 pip ~ $0.10 You need to win $950: With 1 lot, it would be 95 pips because 1 pip = $10. With 0.1 lot, it would be 950 pips because 1 pip = $1. So with 0.01 lot it would be 9500 pips because 1 pip = $0.10.

What they put up is correct (the condition is that each pip is worth 10 cents or $0.10

Wow, 9500 pips sounds like a mountain.

If you think 9500 pips is impossible, you better find another hobby.Forex is not for cowards.

I mean, you don't need to be aggressive either. It's a good calculation, but remember that you can achieve it little by little, not once.

The key is constancy. 9500 pips looks like an Everest, but if you do 20 pips a day, you can achieve it in less than 500 days.

It sounds eternal, but think about it: most leave for despair, not because it is impossible.

So you think I should look for another goal? I want something more achievable in the short term.