How do you convert pips to profit?
I'm trying to understand how to convert pips into profit in trading. Could someone explain the process or provide a formula for this conversion?
Can I put stop-loss above buy price?
I'm considering setting a stop-loss order for my investment, but I'm not sure if it's possible to set it above the buy price. I want to understand if this is a viable option to manage my risks.
What are the disadvantages of stop orders?
I'm considering using stop orders in my trading strategy, but I want to understand the potential downsides. Could someone explain the disadvantages of stop orders?
How many ticks is 1 pip?
I'm trying to understand the relationship between ticks and pips in trading. Specifically, I want to know how many ticks are equivalent to 1 pip. Can someone clarify this for me?
What is a limit sell on Robinhood?
I'm trying to understand the concept of a limit sell on Robinhood. I want to know how it works and how it can be used effectively when trading stocks on the platform.