but to be more accurate it’s 5000 euros, with a value of 6600 USD. For your account all your leverage is based on the USD value of whatever contracts you are holding.
So my gains/losses isnt the same as my leverage. I think that is something I just started to assume somewhere along the line. I guess this would be because US isnt the base currency in this pair?
My leverage is 6.6x but im losing or gaining $.50 US a pip (not $.66)
I don’t think about leverage at all, you just calculate your stake from the amount per PIP you put on a trade. All you need to calculate leverage for is to find out what is the maximum you can wager.