Why in myfxbook is the xau/usd pip 1000 and not 100?

popollo

Tham gia từ Dec 02, 2024 2bài viết

Dec 02, 2024 at 05:53

Tham gia từ Dec 02, 2024 2bài viết

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

Ron_Smith

Tham gia từ Oct 16, 2024 33bài viết

Dec 02, 2024 at 05:55

Tham gia từ Oct 16, 2024 33bài viết

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.

popollo

Tham gia từ Dec 02, 2024 2bài viết

Dec 02, 2024 at 05:59

Tham gia từ Dec 02, 2024 2bài viết

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.

blair3

Tham gia từ Oct 17, 2024 31bài viết

Dec 02, 2024 at 06:25

Tham gia từ Oct 17, 2024 31bài viết

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

EURUSD	1.09037	GBPUSD	1.30043	AUDUSD	0.6354
USDJPY	148.682	USDCAD	1.43199	USDCHF	0.8776

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