Calculate point value as deposit currency

[Deleted]  
During calculation of risk I need to know the point value in deposit currency. So since MODE_POINT value is in quote currency I need to convert quote currency to deposit currency. If I want to do this for any possible deposit currency, what would be the best way? Do I need to write a custom function which first checks for for a pair that includes deposit currency and quote currency, then determine if it is the base or quote currency, and then do the conversion? Is there a better or easier way? I was thinking of using MODE_TICKVALUE to figure out point size in deposit currency, but not sure if this is a good idea as MODE_TICKSIZE seems to not be constant.
Keith Watford
Moderator
26117
Keith Watford  

MODE_POINT has nothing to do with currency value, it is Digits displayed as a decimal

MODE_TICKVALUE will give you the value of a 1 tick move, in your account currency (value is for a 1 lot trade volume)

MODE_TICKSIZE is usually consistant, for currencies. If MODE_TICKSIZE is different to MODE_POINT, then you know that you may have to make adjustments to your code.

[Deleted]  
GumRai:

MODE_POINT has nothing to do with currency value, it is Digits displayed as a decimal

.......

Is it not essentially the same?

In MarketInfo() doc it says :


MODE_POINT11Point size in the quote currency. For the current symbol, it is stored in the predefined variable Point
William Roeder
23488
William Roeder  
curVV: I was thinking of using MODE_TICKVALUE to figure out point size in deposit currency, but not sure if this is a good idea as MODE_TICKSIZE seems to not be constant.
You use TickValue/TickSize * change * nLots
Keith Watford
Moderator
26117
Keith Watford  
curVV:

Is it not essentially the same?

In MarketInfo() doc it says :


MODE_POINT11Point size in the quote currency. For the current symbol, it is stored in the predefined variable Point


Sorry, yes.

If EURUSD increases by 1 Point, the value of a single Euro has increased by $0.00001

You would then need to multiply this by contract size to find how much a 1 Point difference would be for 1 lot.

Then you would need to convert the result from USD to your account currency.

Why bother when you can just use MODE_TICKVALUE ?

William Roeder
23488
William Roeder  
You would know why you can't "just use tickvalue," had you bothered to read my link I posted