3 questions

RushATL · February 3, 2009, 11:44pm

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

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?

daydreamer65 · February 4, 2009, 1:43am

RushATL:

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?

You need to open your terminal window, top of the page, run your cursor across the symbols until you find “terminal”, this then opens up a window at the bottom of the screen.

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

The amount of lots to trade, 1 standard lot = 100 000units, approx. $10/pip,
shown by 1.00 on your window below.

0.10 = 1 mini lot = 10 000 units = $1/pip.

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?

The calculation is evaluated on 4 decimal places,
ie 1.3007(ignore the pipette 4) up to 1.3011(ignore the pipette 0)
therefore your trade moved 4 pips x $1 = 4$

Hope this helps.

RushATL · February 5, 2009, 12:23am

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

daydreamer65 · February 5, 2009, 1:30am

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

RushATL · February 5, 2009, 10:54am

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.

daydreamer65 · February 5, 2009, 11:42pm

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.