How is TickValue calculated?

Guillermo 2017.03.21 13:21

Hello,

I would like to know how the Tick value is calculated for pairs in which the account currency is not present. My understanding is that there is an implicit conversion from your account currency to the base currency of the pair first. Is this correct?

Best regards.

William Roeder 2017.03.21 14:45 #1

Guillermo: Is this correct?	Yes You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support. Account Balance * percent/100 = RISK = OrderLots * (\|OrderOpenPrice - OrderStopLoss\| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.) Do NOT use TickValue by itself - DeltaPerLot You must normalize lots properly and check against min and max. You must also check FreeMargin to avoid stop out

Guillermo: Is this correct?

Yes
- You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
- Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
- Do NOT use TickValue by itself - DeltaPerLot
- You must normalize lots properly and check against min and max.
- You must also check FreeMargin to avoid stop out

How to get the MQL5 MARKET IS WRONG? Calculating a trade lotsize

Alain Verleyen 2017.03.21 18:37 #2

whroeder1:

	Yes

No.

My understanding is that there is an implicit conversion from your account currency to the base currency of the pair first. Is this correct?

It's a conversion from profit currency (and not base currency) to your account currency (and not the reverse).

New comment