3 questions

  1. When I put in an order, how do I go back to see how much I purchased it at? I’m using Fx Pro MetaTrader - love it. Very easy to use, but I don’t know how I can find this information. Today, I put an order in for EUR/USD at 1.30074, but if I forgot, and want to go back to see how much I bought it at, how can I?

  2. What does the “volume” mean when putting orders in? Picture below for reference. Thanks all!

  1. Today I put an order in for EUR/USD at 1.30074 and it went all the way up to 1.30110. I was calculating my profits, however it seems as if I made only $36. Can somebody verify this to see what I did wrong.

.00001/1.30074 = .00000769

.00000769 x $100K = .7687

.7687 x 1.30074 = $1

1.30110 - 1.30074 = .00036 or 36 pips

36pips x $1 = $36 profit? :confused:

Hope this helps. :wink:

Sorry, I still don’t see how you got $4, because I get $40 profit.

.0001/1.3007 = .0000768

.0000768 x 100K = $7.68

$7.68 x 1.3007 = $10/pip

$10 x 4 = $40

Can you help me out. :o

In the initial post you got $36, which is the correct amount, but you
were using the calculation for a pipette, .00001.

Calculation of a pipette.

.00001/1.30074 = .00000769

.00000769 x $100K = .7687

.7687 x 1.30074 = $1

1.30110 - 1.30074 = .00036 or 36 pips

36pips x $1 = $36 profit?

Now you have the calculation for a pip, .0001, the math works out.

Your confusion is in the subtraction of the price of EUR/USD.

1.30110 - 1.30074 = .00036 or 36 pips this is not correct,

1.30110 - 1.30074 = .00036 = 3.6 pips

Thanks for being patient and helping me out. Can you calculate the profit I made and show me step by step on how you got $4? Because I keep getting $40 profit whenever I calculate it.

It’s not 36pips x $1 = $36 profit,
it’s 3.6 x $10 = $36.

The correct answer is $36.

I mistakely mixed your pipette calculation of $1, with
the correct answer to (1.30110 - 1.30074) & rounded it up
to 4 pips instead of 3.6 pips, giving an answer of $4.

So the whole answer is,

Trade 1 lot (100 000 units) EUR/USD @ $10/pip,

long 1.30074,

take profit (TP) 1.30110

1.30110 - 1.30074 = 3.6 pips

3.6 x $10 = $36 profit.

PS It is good to be able to fully understand this concept & where
the calculation comes from, but your platform will carry out this
calculation automatically.