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A pip is the smallest price move in a forex or CFD exchange rate. Learn how to measure the trade value change to calculate profit or loss.

Open Live Open Demo. Continue Browsing Download App. Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.

You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Turkish Lira is not a pair I normally trade, but it was moving around nice so I thought I would trade it.

First few days of last week were good. I was making some good trades and getting pips in the bank. And then the shit hit the fan. I got stuck in a short trade and the pair took off. In hindsight, it was a good move to take the hit, as the Turkish Lira depreciated another couple of pips from where I got out of it. It was not the best decision I have ever made to trade that pair with the political situation in Turkey, so I deserved what I got really. I managed to get back about pips on other pairs, but I was still down over pips on the week overall.

I was looking at my stats today and that Turkish Lira trade broke a run of winning trades in a row. In the last 6 months, I have had 8 losing trades from If you are a retail trader you would probably be happy with half a dozen winning trades in a row. But as I say on my site all the time, professional traders trade in a completely different way to retail traders.

Now after taking that loss on TL and having my first losing week in a very long time I was obviously very depressed come Monday morning. But like all professional traders, you have to put your emotions aside and get on with the job in hand.

And the job in hand was to knock it out of the park this week, and I did just that. This week I took 29 trades with 29 winners and banked a total of pips. As you can imagine I am very happy with that performance. To come back so strong after a big kick in the nuts last week was very satisfying, to say the least. I could have had a lot more but I closed a few trades early yesterday and missed a bit of the Yen weakness late on.

I probably gave up over a pips by closing those trades early, but even so a cracking week of pips. The 3 best trading months of the year for professional traders are September October and November. It's a complete solution that will handle everything for you automatically.

From basic things like opening and closing trades, to advanced calculations like money management and profit control. Forex brokers are not your friend. Built in money management calculates the safest lot size for you automatically. Micro, mini, and full lots are supported.

Odin's modern UI and user friendly interface let you see exactly what it is doing at any point in time. Odin was designed to run inside of the MetaTrader 4 forex terminal. Several major brokers offer instant MT4 demo accounts for free. Simply drag and drop Odin into your MT4 terminal and attach it to any forex chart. Installation is very simple and takes less than 5 minutes.

Odin handles everything for you. Anyone can use it on their charts to find great forex trades. Our dedicated support team is here to help you every step of the way with anything you might need.

Start with a demo account and switch to a live account at any time in the future. Or go live right away. Quick follow up on my performance with the new Odin. Please use mah review if youd like ;. Odin has been finding pips left and right since late last moneth. And you support has been kindly patient with a noob like me which is more than i expected.

I will be purchasing additional licenses for my other brokerages soon Don. But Odin is doing wonderful, will be increasing my funding soon. I will continue using it across the board on my live accounts. Keep me in the loop on any updates. Thank for the help with this the great Odon forex bot.