Guys, new to FX, have read and reread the fantastic pipsology online school courses....but still a lot to learn, so go easy on me! But definitely enjoying the challenge that is FX trading.
My demo account set up as follows:
I have a 10000USD margin with a mini account leveraged at 100:1
Now say I want to enter a trade with the following variables,
Risk Ratio = 2%
Stop Loss pips = 50
Currency pair = AUD/USD
the Position Size calculator tells me this equates to 40000 units.
Now in MT4, when I go to enter my desired order, is the Volume expressed in a standard lot (ie 0.4 in this case) or, because I have a mini-account is it 40000/10000 = 4.0 ??
I'm guessing it is 0.4, but I need to be sure.