How are the Oanda units worked out?
What are the equivalent amount for lot sizes to Ondas units?
Say I wanted to trade an amount of 1000 or 2500 as a posed to a trade of say 100000.
I know that a standard lot is 100000, mini lot is 10000 and micros are 1000 (or 2500 with some brokers), but I don’t know how to convert those to Oanda units.
And don’t know what their equivalents are in the Oanda units.
Thanks
10000 oanda units equates to $1/pip. It will tell you this in your order box. It will also tell you your $$$ value if you place stop loss or take profit
1 standard lot is 100000 units. Oanda prefers letting you have the utmost choice of lot size thus, you can specify the units. 100000 units is the same as 1 lot.
Similarly, 10000 units is 0.1 lots.
I’m talking standard account comparisons here, not mini.
With Oanda 1 unit is 1 unit of the base currency. So if you’re trading EUR/USD, then 1 unit is 1 EUR. If you’re trading USD/JPY, a unit is 1 USD. If you want to match a standard lot you’d use 100,000 units with Oanda.
Thank you for your messages.
Sorry for rehashing an old thread…Im trying to figure out how to risk only a certain amount if $ per trade… I have a small account $1095… since im learning I want to keep my risk low. So im willing to risk $2 per trade. So how do I figure this out. If my stop lose is 50 pips or 68 or 120. What would be the formula? $2÷50pips*unit value? And if so what is the unit value? My leverage is 1:10
tanks
If you want 50 pips to equal $2, then each pip must be valued at 4 cents. ( $2/50 = $0.04).
If you are trading a currency in which yours is the counter, you need a position size of 400 units (0.4 microlot).
Trading 1 microlot (1,000) EUR/USD in a USD account sets the pip value at 10 cents. So to lower that value to 4 cents you need to trade 0.4 micros (400).
-Adrian
In what currency is your account denominated and what pairs are you looking to trade?