Been a while since I've been here, I like what you've done with the place!!
I'm trying to get an IRON grip on how margin works for different pairs.
I want to be able to calculate EXACTLY how much margin is required for any given forex pair within my broker's MT4.
I don't want to be guessing where Margin Call will be.
I have bookmarked the page on my brokers website that declares all the current margin requirements, and I will consult this before every trade - https://www.etxcapital.co.uk/forex-trading/spreads-and-specifications
My real question here is WHAT THE HELL is Margin Percentage in the MT4 Market Watch 'contract specification' tab?
(Right-click any pair in the Market Watch pane, and select 'Specification')
I've checked it for all 28 major and minor pairs:
The only information I could find on it was here: https://www.metatrader4.com/en/trading-platform/help/overview/market_watch#specification
It just says:
"Margin percentage – determines what part of the base margin size value calculated according to the symbol type is charged"
Not very helpful
I'm sure these wildly different percentages have a significant effect on position sizing, but does anyone know how they can be factored in to calculations so that we know exactly how much margin is required/available to use for any given forex pair?
Hugely grateful for any enlightenment on this.