Oanda units please help?

I bought 5 units of XAU/USD , I adjusted my SL to be -30 USD . I am down -192 pips to find myself -9.6 USD and I am still very far from SL.

Also bought 500 units from USD/HUF , and I thought this is equal to 500 USD !?? but apparently its not , please help.

How can I buy 0.01 lots from Oanda , how do u calculate it??

You can set your User Preferences to make that your default trade size and the corresponding number of units will fill in automatically.

Visit this site: http://forums.babypips.com/newbie-is...nda-units.html

10,000 units equals $1 per pip (or) 10,000 units equals 0.1 lots (mini account of one dollar a move)

So how come I buy 500 units of US/HUF doesn't equal 0.005!!!

Thats a big draw down for 500 units of USD !! AKA $ 500!!


http://i47.tinypic.com/jjqozs.jpg

Because not every pair's pip value will be the same.

For Example: I trade two currency pairs and even though both pairs are EUR based pairs, their per pip movement amount is different. The quote I gave above reflects EurUsd standard $1/pip per move.

EurUsd (100,000 contract) = $10/pip per move (while)
EurNzd (100,000 contract) = $7.71/pip per move

Two Eur based pairs yet both have different pip values. To be honest I don't know anything about HUF pairs. I have to suspect HUF may be considered an Exotic pair and if so the rules are a bit different as exotics are usually more expensive pairs and have lower margin rates.

An example of what I'm talking about is here: http://www.fxstreet.com/forex-tools/...ue-calculator/ Even though all of these pairs are major USD pairs, all have different pip values. To know pip value of USDHUF, shoot Oanda an email or call them and they'll workout the equation for you. Or wait for someone on FF to post the pip value for said pair but to be honest, I doubt many FF members trade the pair.

Thanks bro. The pair was highly bullish on daily chart and made a nice retractment. I just entered when people closed their positions before market close. Hope it continues the trend next week.

Ok ... so you entered Long on a retrace. Bro, I hate when that happens. Just hold out for the trend continuation. Good Luck with that trade!

oanda does not calculates in "lots" - for that, if you buy 500 Usd/huf you have bought 500 usd and sold ca. 115,000 huf.

if you want to buy 0.01 lots, you have to enter 1,000 - so 500 usd is equal to 0.005 lots. be aware that usd/huf is a pair with a huge volatility - it moved yesterday about 2 % and it has a huge spread, overall during the weekend, so i would recommend you to buy and sell it while the european markets are open.

USDHUF is $1.05 per pip on a standard 100,000 lot.

I realized that 5 units of XAU/USD = 5x 1230 = 0.06 lots !! LOL luckly I am up to 35 $ USD profit in only few hours lol!! Moved SL to BE , hope it would be a nice run!