Units vs Lots
i'm not familiar how oanda works my guess is
10000/1.3890 = approximately 7199 maybe + commission + spread = 7179
therefore 7179 units = 0.07179 lots
I googl'ed that a few times, no answer in your search either. That's why I posted here.
It's the lots I need qjol.
I think it's simply 7179 / 1000 so 0.71 lots as oanda's smallest lot size 0.01 lots = 1000 units, but the brains of the outfit disagrees - he says 1 lot eurusd has a different value to 1 lot eurjpy...so to get accurate lot values you have to take exchange rate into account.
On Oanda the unit sizes for both transactions are in Euro. Not sure if the same is true for a lot.
It's the lots I need qjol.
I think it's simply 7179 / 1000 so 0.71 lots as oanda's smallest lot size 0.01 lots = 1000 units, but the brains of the outfit disagrees - he says 1 lot eurusd has a different value to 1 lot eurjpy...so to get accurate lot values you have to take exchange rate into account.
On Oanda the unit sizes for both transactions are in Euro. Not sure if the same is true for a lot.
0.1 lot on EURUSD or EURJPY or EUR/whatever @ 1.3890 = 10000 EURO = 13890 $
the same 0.1 lot on GBPUSD or GBPJPY or GBP/whatever @ 1.5950 = 10000 BRITISH POUND = 15950 $
therefore 7179 units (eur/whatever by oanda) supposed to be 0.0719 lots (not oanda)
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I'm battling with lots vs units oanda style....
My base is $USD - I want to sell $10000 eurusd @ 1.3890 and $10 000 eurjpy @ 105.97 each. So on the oanda platform it gives it as 7 179 units each, what would that be in lots for MetaTrader and how do I get there ?
Probably going to kick myself, but I'd just like to confirm as we're splitting hairs this side and can't come to an agreement.