Need help from experts. Thank you for your answers. (point=pip)
Q: I have a mini account, so one lot (1.0) is 10000 units. If I trade 0.01 lot i.e. 100 units of EUR/USD pair, and the pair is quoted with five points after decimal i.e. x.xxxxx
Then by formula, one point equivalent of profit or loss will be = Total Units Traded/Decimals in Quote
My question is, will the "total units traded" be 10000 (account size) or 100 (traded size) in this case?
If it was 10000, then one point will be 0.1 USD
If it was 100, then one point will be 0.001 USD
Q: I have a mini account, so one lot (1.0) is 10000 units. If I trade 0.01 lot i.e. 100 units of EUR/USD pair, and the pair is quoted with five points after decimal i.e. x.xxxxx
Then by formula, one point equivalent of profit or loss will be = Total Units Traded/Decimals in Quote
My question is, will the "total units traded" be 10000 (account size) or 100 (traded size) in this case?
If it was 10000, then one point will be 0.1 USD
If it was 100, then one point will be 0.001 USD