Help me with your enlightenment master..
I am learning forex at FBS broker via a demo account, trading on mt5,
On the broker, my balance is written as: $200, leverage 1:200, 1 lot =100,000.
But why is my balance in the mt5 app only $40,000 (200×200)?
And if I open a position with 0.10 lots requiring a margin of $54.19, how much of my funds will be left to hold the open position?
$200 - $54.19 or $40,000 - $54.19?
Now my balance is $46,339.92, how do I calculate the profit approximately? Thanks.
@ Ahmad:
- … But why did my balance become 40,000 (200×200) in the mt5 app?
If you set the balance = USD 200, it should also show USD 200. In this case, please contact the broker.
- And if I open a position (OP) with a lot size of 0.10 which requires a margin of $54.19, how much of my funds will be left to hold the open position? $200 - $54.19 or $40,000 - $54.19?
Remaining funds = USD 200 - USD 54.19 = USD 145.81.
- … how do I calculate the profit approximately?
Regarding the size of the profit, it is not done approximately, but there is a definite calculation.
Please read: Calculating Profit and Loss From Pips in Forex