EA Lot calculator issue

[Mercator]

The Lot calculator in the trade manager I have added to my MT4 platform seems only to calculate lot quantity, whereas others using the same utility can see calculation results in terms of value ( £s and pence ) per pip.  I have tried everything I can to sort this out, and consulted others, but haven't been able to resolve the issue.  Can anyone help, please ?

[JohnnyRy]

On 25/08/2023 at 10:15, Mercator said:

The Lot calculator in the trade manager I have added to my MT4 platform seems only to calculate lot quantity, whereas others using the same utility can see calculation results in terms of value ( £s and pence ) per pip.  I have tried everything I can to sort this out, and consulted others, but haven't been able to resolve the issue.  Can anyone help, please ?

It is possible to reverse calculate lot value in the base currency of the account if you have access to the source code of the EA. Do you?

As for the math, see https://www.ig.com/en/trading-strategies/what-is-a-lot-in-forex-and-how-do-you-calculate-the-lot-size--210312

Edited August 28, 2023 by JohnnyRy

[JohnnyRy]

Compliments of ChatGPT (or as I like to call it... SkyNet🤖:

Certainly, let's calculate the value of 2 standard lots of GBPJPY:

Exchange rate of GBPJPY: 184.83
Exchange rate of USDJPY: 145.84
Number of GBP (2 standard lots): 200,000 (100,000 GBP per standard lot * 2 standard lots)

Value in JPY = 200,000 GBP * 184.83 (GBPJPY exchange rate) = 36,966,000 JPY

Now, let's convert the JPY amount to USD using the USDJPY exchange rate:

Value in USD = 36,966,000 JPY / 145.84 (USDJPY exchange rate) ≈ $253,242.24 USD

So, with 2 standard lots of GBPJPY, a GBPJPY exchange rate of 184.83, and a USDJPY exchange rate of 145.84, the value would be approximately $253,242.24 USD.

Edited August 29, 2023 by JohnnyRy