I have noticed that some currency pairs cause me to gain or loose more money than others, even when the number of points gained or lost is the same.
For example:
If I sell EURJPY and set a stop loss at 200 points, I could loose $500
But if I sell USDCAD and set a stop loss at 200 points, I might only loose loose $100.
How can I estimate roughly how much a point could cause me to earn or loose for any given currency pair?
For example:
If I sell EURJPY and set a stop loss at 200 points, I could loose $500
But if I sell USDCAD and set a stop loss at 200 points, I might only loose loose $100.
How can I estimate roughly how much a point could cause me to earn or loose for any given currency pair?