Sample Order in MT4

[JK71]

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.

Regards

[Jezzode]

$10,000 x 2% = $200

$200 / 50pip stop = $4.00 per pip

= 0.40 lots when 1.0 std lots is equal to $10.00 per pip, i.e. 100,000 units

Also remember that pairs that do not end in USD will not be equal to $10.00 per single std Lot

[Rusho]

Standard Account: 1 lot = 100000 units
0.1 lot = 10000 units
0.01 lot = 1000 units

Mini Account: 1 lot = 10000 units
0.1 lot = 1000 units
0.01 lot = 100 units

At first you need to be sure which type of account it is. Open a trade with volume 1. If it moves $10 per pip movement then it is aStandard account.If it moves $1 per pip movement than it is a mini account. In standard account your volume will be:40000/100000= 0.4 and in a mini account your volume will be:40000/10000 = 4.00