Hi guys,
Can someone who really knows what they're talking about please answer this question. I'm looking for the math formula here. I'd like to make an excel spreadsheet for this..
I don't have XAU/GBP , XAU/EUR, XAU/CAD in my chart but I'd like to trade them. So for a XAU/GBP Long for example, I can Buy XAU/USD and Sell XAU/GBP. My question is, how can I calculate the exact lot size for each currency so that it's even. (If I'm buying 1 lot of XAU/USD and selling 1 lot of GBP/USD its not exactly the same as selling 2 lots of XAU/GBP..)
Math isn't my specialty, looking forward to the answer.
PS. The title is not correct, a better title would have been: Question on Calculating Lot Size on Non-broker Gold Pairs - or something to that effect. lol
Can someone who really knows what they're talking about please answer this question. I'm looking for the math formula here. I'd like to make an excel spreadsheet for this..
I don't have XAU/GBP , XAU/EUR, XAU/CAD in my chart but I'd like to trade them. So for a XAU/GBP Long for example, I can Buy XAU/USD and Sell XAU/GBP. My question is, how can I calculate the exact lot size for each currency so that it's even. (If I'm buying 1 lot of XAU/USD and selling 1 lot of GBP/USD its not exactly the same as selling 2 lots of XAU/GBP..)
Math isn't my specialty, looking forward to the answer.
PS. The title is not correct, a better title would have been: Question on Calculating Lot Size on Non-broker Gold Pairs - or something to that effect. lol