IDEALPRO lots calc question

Discussion in 'Forex' started by Digs, Nov 11, 2009.

  1. Digs

    Digs

    ok refresh me

    My account is USD
    My account balance is $10,000
    My margin is 40:1 USD

    -AUDUSD Price is 0.93
    Pip value of AUDUSD is $10.00 USD

    -AUDJPY Price is 83.58
    Pip value of AUDJPY is $11.96 USD ((1/83.58 )*1000

    -USDJPY Price is 89.83
    Pip value of USDJPY is $11.13 USD ((1/89.83 )*1000

    Question: I want to BUY AUDJPY so that when one tick moves my pipvalue with be $10.00 USD, show what number do I load into the TWS as AUDJPY to buy???
     
  2. 4XQs

    4XQs

    10 USD is 900 JPY.

    So, you want to buy 90.000 AUD/JPY as that gives you a pip move of 900 JPY.
     
  3. Digs

    Digs

    BUY 90 AUD/JPY

    So the lot amount I load into TWS forex is AUDUSD

    and when I sell it I get USDJPY ???

    *&^%)&^*)
     
  4. 4XQs

    4XQs

    Well, there's no "lot" with IB - it's just the amount you want to trade. If you're used to a lot being 1.000 then yes it would be 90 lots with USD/JPY trading at 90 - and that's also the exchange rate you'd pay attention to since you wanted a pip move to be a certain value in USD when it really is JPY.

    There's tons of threads like this about IDEALPRO, where this is detailed closer - I suggest a search.
     
  5. Digs

    Digs

    Does this look correct for AUDJPY

    to get a standard $usd 10 pip movement for each pair.

    AUDJPY

    BUY $7,507,961 is TWS input ( rounded to 7,500,000)

    [​IMG]
     
  6. craig

    craig

  7. You'll never come up with exactly a $10 pip movement. You may start with one but once the USD/JPY rate changes, your pip movement in AUD/JPY will be higher or lower than $10.