JPY: Why Does the Forex Price has this Structure: 111.123 Instead of 0.111123, so that One Needs an Individual Coeff to Get in Line with Others?

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I don't like individual configuration for general problems :(

The JPY has a structure of 123.456 if you multiply it wit the lot size 100,000$ you'll get a ridiculous high number. You have to divide the JPY-price by 1000 to be able to use it in calculations with with other cross rates.

Does anybody know how this developed and why this is as it is. Is there a more elegant solution - which means to me: valid for all - than check for a JPY in the symbol name?

 
I dont quite follow you, but why would you want to multiply it by 100,000? One standard lot is 100,000 units, thats already understood. Almost all Yen crosses uses the Yen as the quote currency, because otherwise the quote will be a very long decimal number, which it would make it even more difficult to play with. For example. The USDJPY is now at 111.79, if the Dollar was the quote currency, then the JPYUSD would be 0.00895...
 
  • You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
  • Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
  • Do NOT use TickValue by itself - DeltaPerLot
  • You must normalize lots properly and check against min and max.
  • You must also check FreeMargin to avoid stop out
No check required.
 
fxstrategist007:
I dont quite follow you, but why would you want to multiply it by 100,000? One standard lot is 100,000 units, thats already understood. Almost all Yen crosses uses the Yen as the quote currency, because otherwise the quote will be a very long decimal number, which it would make it even more difficult to play with. For example. The USDJPY is now at 111.79, if the Dollar was the quote currency, then the JPYUSD would be 0.00895...
The problem starts when you want to trade a JPY in relation to e.g. EUR then the lotsize comes in and then you have to handle the JPY individually despite it a currency like the others :(
 
whroeder1:
  • You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
  • Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
  • Do NOT use TickValue by itself - DeltaPerLot
  • You must normalize lots properly and check against min and max.
  • You must also check FreeMargin to avoid stop out
No check required.
I have no problem to trade an JPY pair solely but in relation to others I have to 'normalize' the JPY prices - that is what I don't like and that's what I would like to know why?
 

Carl Schreiber:  I have to 'normalize' the JPY prices

  1. No you don't. Whatever thinking your doing is wrong. The rate is the rate. Live with it. There is no 'normalize' whatever that means.
  2. In the 1980's the peso was 3500 to the dollar.
 
Carl Schreiber:
I have no problem to trade an JPY pair solely but in relation to others I have to 'normalize' the JPY prices - that is what I don't like and that's what I would like to know why?
I agree with WHRoeder. What is the real problem actually ?
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