Meta trader 4 and profits/loss (volumes)

Beginner Questions
1

Hello all,

so the title of my heading is all over the place because there are 3 questions id like to ask.
Take note i am only on a demo account and am currently halfway through middle school. :22:

  1. When i use metatrader 4 from forex.com, is it using forex.com application? or is it just like using metatrader 4 from fxcm.com. whats the difference?

  2. When i place an order, im ok with setting up stop loss, entry and take profit. Yet i dont know how volume is calculated. it ranges from 0.01 to 8.00. are these precentages of the price per currency that is being bought/sold?

  3. Are my questions very vague? :stuck_out_tongue:

Thanks!

2
  1. 0.01 = 1000 unit.
    1.00 = 100000 unit = 1 Standard Lot.

You can find Calculator to count how much unit you can buy with your balance and leverage.

For Selection you can key in the unit you wan. Like 0.08 0.10 0.15

3

Thanks Taunee :57:

4

Metatrader is a software application used by many companies - you just log in to your account from within that software. I have just set up an account with Oanda, and they use Metatrader as well - I think it will look identical to what you are using.

best wishes,

Jon.

5

Taunee, I too had the same question so thank you for your response. A follow-up that I have to this though is:

If my demo account is only a $5000 account and my maximum leverage available with FXDD is 50:1, does 0.50 volume still mean 50000 units or was my account automatically setup as a micro account and therefore the 0.50 volume would be 5000 units?

6

0.50 unit will be 50000 unit. For example If your balance is $5000 with a leverage of 50:1, It boost your $5000 to $250,000. Making it for you to purchase more unit. Try it on meta4. when you try to purchase unit more then your account can handle, It will show “Not Enough Money”. That’s why you have to calculate how many max unit you are able to purchase. Sorry for my bad english.