Let's say my mini account has margin 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 limited view of "risk". I'm not interested in stopLoss pips, or profit targets, or whatever.]

Using MetaTrader, I get the following mini account 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: How do I calculate the lot size for $200? (It would be useful to know the cost of a minimum size lot. In this case, the minimum size lot is .01).

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

Thank you very much in advance.

I send to you a good lot size calculator based on the equity and not on the balance. It's better if ou have more one trade.

There is Tick, PIP, and Point. They are all different in general. A tick is the smallest change of price. A Point is the least significant digit quoted. In currencies a pip is defined as 0.0001 (or for JPY 0.01)

On a 4 digit broker a point (0.0001) = pip (0.0001). [JPY 0.01 == 0.01] On a 5 digit broker a point (0.00001) = 1/10 pip (0.00010/10). Just because you quote an extra digit doesn't change the value of a pip. (0.0001 == 0.00010) EA's must adjust pips to points (for mq4.) In currencies a tick is a point. Price can change by least significant digit (1.23456 -> 1.23457)

In metals a Tick is still the smallest change but is larger than a point. If price can change from 123.25 to 123.50, you have a TickSize of 0.25 and a point of 0.01. Pip has no meaning.

This is why you don't use TickValue by itself. Only as a ratio with TickSize. See DeltaValuePerLot()

chaffinsjc:Let's say my mini account has margin 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 limited view of "risk". I'm not interested in stopLoss pips, or profit targets, or whatever.]

Using MetaTrader, I get the following mini account 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: How do I calculate the lot size for $200? (It would be useful to know the cost of a minimum size lot. In this case, the minimum size lot is .01).

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

Thank you very much in advance.

I send to you a good lot size calculator based on the equity and not on the balance. It's better if ou have more one trade.

Files:In the documentation :

MODE_TICKVALUE

16

Tick value in the deposit currency

MODE_TICKSIZE

17

Tick size in points

For my five digit broker : mode_tickvalue = 1; mode_ticksize = 0.00001

So why every body give this line :

Aint this wrong ?

This is wrong, missworded (?)

It should be : if Digits == 5 AND if you work in Pips, then ....

if (Digits==3 || Digits==5) pipValue *= 10;if someone work in Point, someone don't care about Pips.

10536

ffoorr:In the documentation :

MODE_TICKVALUE

16

Tick value in the deposit currency

MODE_TICKSIZE

17

Tick size in points

For my five digit broker : mode_tickvalue = 1; mode_ticksize = 0.00001

So why every body give this line :

Aint this wrong ?

ffoorr:Aint this wrong ?There is

Tick,PIP, andPoint. They are all different in general. A tick is the smallest change of price. A Point is the least significant digit quoted. In currencies a pip is defined as 0.0001 (or for JPY 0.01)On a 4 digit broker a point (0.0001) = pip (0.0001). [JPY 0.01 == 0.01] On a 5 digit broker a point (0.00001) = 1/10 pip (0.00010/10). Just because you quote an extra digit doesn't change the value of a pip. (0.0001 == 0.00010) EA's must adjust pips to points (for mq4.) In currencies a tick is a point. Price can change by least significant digit (1.23456 -> 1.23457)

In metals a Tick is still the smallest change but is larger than a point. If price can change from 123.25 to 123.50, you have a

TickSizeof 0.25 and a point of 0.01. Pip has no meaning.This is why you don't use

TickValueby itself. Only as a ratio withTickSize. See DeltaValuePerLot()