Then with GBPUSD, you would be Selling 100,000 Units of GBP and Buying 100,000 units of USD.
No, you dont get the same amount of different currencies. If eurusd rate is 2, you get 2 usd 'units' for every 1 euro 'unit' ='€'.
I wonder how you can make any strategy with such knowledge of the system.
No, the value of the units doesn't matter, it is the number of units that matters.... You are still looking at it wrong. NUMBER OF UNITS and VALUE OF UNITS will not be equal. I agree with you on that. But the NUMBER OF UNITS matters for a hedging system more than the value of the units. If the prices all became 1:1:1, then both would equal out, but that is unlikely. But for having a safe hedge, you want to have an EQUAL NUMBER OF UNITS. Otherwise which ever currency that you have more UNITS of will be the commanding currency not the one that has the most value. What you fail to see is that 3 pairs of a hedge basket don't move equally in PIPs. For instance, for AUDUSD, EURUSD, and EURAUD, the EURAUD pair generally moves more PIPs than the other 2 pairs in the same time period.
What you are saying isn't necessarily wrong, but their are other factors that you haven't completely considered and don't see unless you actually map out prices. You can't just take one closing price, but you need to take multiple price points and see how each pair moves relative to the others over different time periods and you can see what I mean.
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