Hi,
Being a newbie I am having some trouble witht the maths of leverage etc.
In a book I purchased it gives an example:
1 lot (100,000) EUR base currency
50:1 leverage, or 2%
quote currency USD
Profit 300 pips
So,
USD10.00 x 50:1 x 300 pips =USD 60,000
When I do this on my calculator it only gives me 60, not 60,000
Where am I going wrong with my calculation?
Thanks in anticipation
Zygons
Being a newbie I am having some trouble witht the maths of leverage etc.
In a book I purchased it gives an example:
1 lot (100,000) EUR base currency
50:1 leverage, or 2%
quote currency USD
Profit 300 pips
So,
USD10.00 x 50:1 x 300 pips =USD 60,000
When I do this on my calculator it only gives me 60, not 60,000
Where am I going wrong with my calculation?
Thanks in anticipation
Zygons