IDEALPRO lots calc question

[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???

 

[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.

 

[Digs]

BUY 90 AUD/JPY

So the lot amount I load into TWS forex is AUDUSD

and when I sell it I get USDJPY ???

*&^%)&^*)

 

[4XQs]

Quote from Digs:

BUY 90 AUD/JPY

So the lot amount I load into TWS forex is AUDUSD

and when I sell it I get USDJPY ???

*&^%)&^*)

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.

 

[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)

 

[craig]

you would need to trade .9 standard lots or 9 mini lots to trade AUD/JPY at $10 a pip.

http://www.goforex.net/pip-calculator.htm

 

[Hurricane]

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.