How do I calculate lot size when I know equity amount to risk?

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My mini account displays symbol designations such as EURUSDm, GBPUSDm, etc. That makes sense to me.

Let's say my account has equity of $10,000, and I want to risk 2% on the next trade (that is, simply use $200 to buy <some amount> of contracts). [I realize this is a simple view of "risk".]

Using MetaTrader, I get the following information from my broker:

accountLeverage = AccountLeverage(); // value = 200

modeLotSize = MarketInfo("EURUSDm", MODE_LOTSIZE); // value = 10000

modeLotStep = MarketInfo("EURUSDm", MODE_LOTSTEP); // value = .01

modeMinLot = MarketInfo("EURUSDm", MODE_MINLOT) ); // value = .01

QUESTION 1: If I want to risk 2% of $10,000 on the next EURUSD trade (that is, risk $200), how do I calculate the lot size?

QUESTION 2: Is MODE_LOTSIZE in units? In other words, MODE_LOTSIZE specifies the size of 1.0 lot ( 1 contract ) in this mini account as 10,000 units of the base currency.

QUESTION 3: Since the base currency is USD, if a contract is 10,000 units of the base currency, does this mean 1 contract is valued at $10,000 which -- at 200-to-1 leverage, needs $50 bucks?

QUESTION 4: Is the calculation of lot size the same formula for all currency pairs?

Thank you very much in advance.

 
chaffinsjc wrote >>

My mini account displays symbol designations such as EURUSDm, GBPUSDm, etc. That makes sense to me.

Let's say my account has equity of $10,000, and I want to risk 2% on the next trade (that is, simply use $200 to buy <some amount> of contracts). [I realize this is a simple view of "risk".]

Using MetaTrader, I get the following information from my broker:

accountLeverage = AccountLeverage(); // value = 200

modeLotSize = MarketInfo("EURUSDm", MODE_LOTSIZE); // value = 10000

modeLotStep = MarketInfo("EURUSDm", MODE_LOTSTEP); // value = .01

modeMinLot = MarketInfo("EURUSDm", MODE_MINLOT) ); // value = .01

QUESTION 1: If I want to risk 2% of $10,000 on the next EURUSD trade (that is, risk $200), how do I calculate the lot size?

QUESTION 2: Is MODE_LOTSIZE in units? In other words, MODE_LOTSIZE specifies the size of 1.0 lot ( 1 contract ) in this mini account as 10,000 units of the base currency.

QUESTION 3: Since the base currency is USD, if a contract is 10,000 units of the base currency, does this mean 1 contract is valued at $10,000 which -- at 200-to-1 leverage, needs $50 bucks?

QUESTION 4: Is the calculation of lot size the same formula for all currency pairs?

Thank you very much in advance.

I'm withdrawing this 4-part question and re-asking with shorter questions.

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