Dorian Baranes:
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Is there a formula allowing to do that ?
Yes, the formula is : "Search engine, please give me all the topics where it was already discussed" :-D
Alain Verleyen:
Yes, the formula is : "Search engine, please give me all the topics where it was already discussed" :-D
Hi Alain,
I have found topics to convert between currency account and quote currency. However I have not found topics to convert between currency account and base currency. I will appreciate if you can send me the link discussing about this.
Regards,
Dorian
Dorian Baranes: I would like to know how much will cost one lot (100 000 units) for a specific currency pair.
Lots is only one item. Risk requires three.
For MT4:- In code:
Risk depends on your initial stop loss, lot size, and the value of the pair.
- You place the stop where it needs to be - where the reason for the trade is no longer valid.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
and verify that MODE_TICKVALUE is returning a value in your deposit
currency, as promised by the documentation, or whether it is returning a value
in the instrument's base currency.
MODE_TICKVALUE is not reliable on non-fx instruments with many brokers. - You must normalize lots properly and check against min and max.
- You must also check FreeMargin to avoid stop out
- Use a GUI EA like mine (for MT4): Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 6
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Hi,
Here is my problem. I would like to know how much will cost one lot (100 000 units) for a specific currency pair.
For example I have an account in JPY and I want to know how much will cost 1 lot for EURUSD in JPY. Therefore I need to conver JPY to EUR (base currency).
Is there a formula allowing to do that ?
Thanks for your help
Regards,
Dorian