I just srarted using the oanda game platform can someone explain how trading in units works. I put in an order for 20 units at 50:1 leverage and atr 30 pips only see .05 cents in profrit.
In Oanda, a unit is one of whatever currency you’re trading.
For example:
EUR/USD = 1 Euro
USD/JPY = 1 USD
GBP/JPY = 1 GBP
A micro lot would be 1,000 units, a mini lot would be 10,000 units, and a standard lot would be 100,000 units.
Terry
thanks for the quick answer. It was a little confusing since I was used to seeing lots instead of units.
I know what you mean. I had to adjust my thinking with that, too.
Terry
I had the same problem until I got a hold of Customer Service for the explination. They should have it posted so people can better understand.
When placing a trade the window will tell you how much a pip is worth. So I like to trade 1%/100 of my account per pip. This is nice. If my balance is 1563.00 then 1% my balance would be $15.63 and my pip value would be $0.1563 this is a nice option.