My account is in GBP. So shouldn't the loss in MT4 appear in GBP also?

Moderator

14015

368

My account is in GBP. So shouldn't the loss in MT4 appear in GBP also?

Moderator

14015

My account is in GBP. So shouldn't the loss in MT4 appear in GBP also?

What is $10 in GBP ??

368

What is $10 in GBP ??

I realise that the loss is equal to 10USD, I just thought that if the account was set up in a particular currency, then the P/L in MT4 would appear in that currency. Obviously this isn't the case.

4419

But that IS exactly what it is doing. It IS showing you your Profit/Loss in GBP, not USD!

1 Pip-Lot has a value of $10 for EUR/USD which gave you a loss of -7.56 GBP (at the exchange rate at that time).

368

But that IS exactly what it is doing. It IS showing you your Profit/Loss in GBP, not USD!

Yes sorry you're right. What I meant was that if I enter a 1 lot order, with my account denominated in GBP, I thought that in this case, 1 pip would be equal to £10.00. But 1 pip is actually equal to $10.00. Which still seems slightly strange because as mentioned the account is not in USD. But at least I know now so thanks for your help.

4419

No. Values of Pips in each currency pair has a set value based on that pair. eg. GBP/USD, EUR/USD, etc. all end in the USD quote currency, therefore they all have a pip value expressed in USD.

Eg. EUR/JPY, GBP/JPY all have a quote currency of JPY, so their pip values are always expressed in JPY.

368

No. Values of Pips in each currency pair has a set value based on that pair. eg. GBP/USD, EUR/USD, etc. all end in the USD quote currency, therefore they all have a pip value of $10 USD.

Eg. EUR/JPY, GBP/JPY all have a quote currency of JPY, so their pip values are always expressed in JPY.

Okay so just to confirm, you're saying that:

if I'm trading the USD/CAD, then the pip value appears in CAD.

if I'm trading the GBP/NZD, then the pip value appears in NZD.

if I'm trading the AUD/JPY, then the pip value appears in JPY.

4419

Okay so just to confirm, you're saying that:

if I'm trading the USD/CAD, then the P/L appears in CAD.

if I'm trading the GBP/NZD, then the P/L appears in NZD.

if I'm trading the AUD/JPY, then the P/L appears in JPY.

No. Your P/L will always appear in your "Deposit/Balance Currency", not in the "Quote Currency".

The currency pairs themselves however, are always expressed in a "Base Currency" to "Quote Currency" ratio and their "pip-lot" values are always expressed in their "Quote Currency".

However, In MetaTrader you can have it display the Profit/Loss of an open trade in "points" instead if that is what you prefer, but first learn to understand the relationship between all of these.

368

No. Your P/L will always appear in your "Deposit/Balance Currency", not in the "Quote Currency".

The currency pairs themselves however, are always expressed in a "Base Currency" to "Quote Currency" ratio and their "pip-lot" values are always expressed in their "Quote Currency".

Sorry I changed my comment from 'the P/L appears in' to 'the pip value appears in' just before your reply.

The P/L in Account History will always appear in the deposit/balance currency, but the pip value of that pair is always expressed in the quote currency.

Okay how do I change the P/L to points just for future reference?
This trade incurred a loss of 1 pip on a 1 lot. The loss should therefore equal -10.00 (the spread) , however the loss appears as -7.56 in Account History. There are no commission, tax or swap charges on the trade, so how is it possible for the loss to equal this amount?

Order

Time

Type

Size

Symbol

Price

S/L

T/P

Time

Price

Commission

Taxes

Swap

Profit

154836493

2018.10.12

12.07.18

Buy

1.00

eurusd

1.15887

0.00000

0.00000

2018.10.12

12:07:19

1.15877

0.00

0.00

0.00

-7.56

On Trade Open:Bid = 1.15877

Ask = 1.15887

Spread = 10 points

OOP = 1.15887

On Trade Close:

Bid = 1.15877Ask = 1.15887

Spread = 10 points

OCP = 1.15877