Doubt with MT4 Take Proft?

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I did a Buy Order in USDCAD at Price 1.36141 and Sold at 1.36241 with lot size 0.02 but I only got 1.47$ in profit instead of 2.00$. As per my research Take Profit will only close when Bid price reach the take profit price.

Can Anyone help Me Here is the image of order from Account History

 
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Jaisal Francis: I did a Buy Order in USDCAD at Price 1.36141 and Sold at 1.36241 with lot size 0.02 but I only got 1.47$ in profit instead of 2.00$. As per my research Take Profit will only close when Bid price reach the take profit price. Can Anyone help Me Here is the image of order from Account History

The tick value for USDCAD is not 1 USD. It is 1 CAD. USD is the base currency and CAD is the quote currency.

The profit was 100 ticks (or points) or 100 CAD for 1 full lot. At 0.02 lots, it would be 2 CAD, which is approximately 2 / 1.36241 = 1.46798 USD

 
Fernando Carreiro #:

The tick value for USDCAD is not 1 USD. It is 1 CAD. USD is the base currency and CAD is the quote currency.

The profit was 100 ticks (or points) or 100 CAD for 1 full lot. At 0.02 lots, it would be 2 CAD, which is approximately 2 / 1.36241 = 1.46798 USD

That's a new information for me thank you for spending your time to clear my doubt. I didn't know there was that kind of conversion :) .
 
Jaisal Francis #: That's a new information for me thank you for spending your time to clear my doubt. I didn't know there was that kind of conversion :) .

A currency pair's tick value is always expressed as the "quote" currency.

  • Tick value for USDJPY is 1 JPY.
  • Tick value for EURUSD is 1 USD.
  • Tick value for GBPUSD is 1 USD.
  • Tick value for AUDCAD is 1 CAD.
  • etc.

You always then need to convert that into your account's currency.

However, when using an EA, you can simply read the contract specification's tick value property which is should always be expressed in account currency.

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