TickValue with EURUSD includes exchange rate? - page 3

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Petr Nosek:

I think @Doerk Hilger meant his customers.

Yes, the users were meant, sorry :) 

 

Dear all,

I am having similar kind of issue with tick value and tick size for XAUUSDx and my broker is ThinkMarkets. The specification is showed below. Please not the Contract Size is 100, Margin Currency is USD, Calculation is CFD Leverage and Tick size is 0.01 and Tick value is 0.01. 



In meta trader 5,  formula for calculating margin requirement if  the value of ENUM_SYMBOL_CALC_MODE is SYMBOL_CALC_MODE_CFDLEVERAGE is as below:

Identifier    Description   Formula

SYMBOL_CALC_MODE_CFDLEVERAGE

CFD Leverage mode - calculation of margin and profit for CFD at leverage trading

Margin: (Lots * ContractSize * MarketPrice) / Leverage * Margin_Rate

 

Profit:  (close_price-open_price) * Contract_Size * Lots


When I am using following code to calculate lot size requirement:

#property copyright "Copyright 2023, MetaQuotes Ltd."
#property link      "https://www.mql5.com"
#property version   "1.00"
#property strict

void OnStart()
  {
   Test("XAUUSDx");   
   
  }

void Test (string symbol) {
   PrintFormat("Base currency is %s", AccountInfoString(ACCOUNT_CURRENCY));
   PrintFormat("Testing for symbol %s", symbol);
   
   double pointValue = PointValue(symbol);
   PrintFormat("ValuePerPoint for %s is %f", symbol, pointValue);
   
   
   // Fixed risk amount and stoop loss, how many lots to trade
   
   double riskAmount = 100; //$
   double riskPoints = 50;  // in point
   double riskLots = riskAmount/(pointValue*riskPoints);
   
   PrintFormat("Risk lots for %s amount $ %f and sl at %f points is %f", symbol, riskAmount , riskPoints, riskLots);
   
}

double PointValue(string symbol) {

   double TickSize = SymbolInfoDouble(symbol, SYMBOL_TRADE_TICK_SIZE);
   double TickValue = SymbolInfoDouble(symbol, SYMBOL_TRADE_TICK_VALUE);
   double point = SymbolInfoDouble(symbol, SYMBOL_POINT );  
   double contractSize=SymbolInfoDouble(symbol,SYMBOL_TRADE_CONTRACT_SIZE);

   int tradeCalcMode=(int)SymbolInfoInteger(symbol,SYMBOL_TRADE_CALC_MODE); 
   string tcm = EnumToString((ENUM_SYMBOL_CALC_MODE)tradeCalcMode);
 
   double TickPerPoint = TickSize/point;
 
   double PointValue  = TickValue/TickPerPoint;
   PrintFormat("contractSize =%f, tradeCalcMode =%s, TickSize=%f, TickValue=%f, point=%f, TickPerPoint=%f, PointValue=%f", contractSize, tcm, TickSize, TickValue, point, TickPerPoint, PointValue);   
   return(PointValue);

}

I am getting  following output: 

LotSizeCalculation (XAUUSD,H1)	contractSize =100.000000, tradeCalcMode =SYMBOL_CALC_MODE_CFDLEVERAGE, TickSize=0.010000, TickValue=0.010000, point=0.010000, TickPerPoint=1.000000, PointValue=0.010000
LotSizeCalculation (XAUUSDx,H1) Risk lots for XAUUSD amount $ 100.000000 and sl at 50.000000 points is 200.000000

which is literally position size has to be 200lots for 50 points stop loss and 100$ risk. Which is not correct.

But when I run the same script on ICMarkets, I get the following output:

LotSizeCalculation (XAUUSD,M30) contractSize =100.000000, tradeCalcMode =SYMBOL_CALC_MODE_FOREX, TickSize=0.010000, TickValue=1.000000, point=0.010000, TickPerPoint=1.000000, PointValue=1.000000
2023.08.22 18:46:56.211 LotSizeCalculation (XAUUSD,M30) Risk lots for XAUUSD amount $ 100.000000 and sl at 50.000000 points is 2.000000


For ICMarkets, spec for XAUUSD is as follows: (Pls note Margin Currency is XAU and Calculation is Forex


Lotsize requirement for the first broker is 200 and for the second broker is 2.

My question is do I have to use contract size and if yes how am I going to use contract size to calculate the lot size required? Do i have to check SYMBOL_TRADE_CALC_MODE and SYMBOL_TRADE_CONTRACT_SIZE for calculating lot size as standard procedure for all symbols all the time?

Any help would be much appreciated!


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