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Why in myfxbook is the xau/usd pip 1000 and not 100?
Dec 02, 2024 at 05:53
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3 Replies
Biedrs kopš
2 ieraksti
Dec 02, 2024 at 05:53
I don't understand that everywhere I see it shows that a standard contract is 100 ounces but here it shows 100 mainly to calculate profits it is on top of 1000.
If someone can explain this to me
If someone can explain this to me
Biedrs kopš
33 ieraksti
Dec 02, 2024 at 05:55
A standard gold contract typically represents 100 ounces, but when you see it calculated with 1000 ounces, it's often for easier profit/loss scaling. Essentially, it's just a method to show values more clearly, especially when adjusting for larger trades or different lot sizes. The underlying contract remains 100 ounces, but the 1000 ounces could be for reference or simplified calculations.
In trading, knowledge is power; in practice, patience is key.
Biedrs kopš
2 ieraksti
Dec 02, 2024 at 05:59
Ron_Smith posted:
A standard gold contract typically represents 100 ounces, but when you see it calculated with 1000 ounces, it's often for easier profit/loss scaling. Essentially, it's just a method to show values more clearly, especially when adjusting for larger trades or different lot sizes. The underlying contract remains 100 ounces, but the 1000 ounces could be for reference or simplified calculations.
This is confusing for beginners because when you use the site's profit calculator you get a result of 100 thousand dollars in profit for each point and 1 contract.
Biedrs kopš
31 ieraksti
Dec 02, 2024 at 06:25
I have never seen anything like that before, lol, but dont you think it is better to use broker's calculator since you will be trading with them? Myfxbook is just making an assumption for you to understand
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