Oanda and its quotUnitsquot

thread: Oanda and its quotUnitsquot

  1. #1

    Oanda and its quotUnitsquot

    A buddy of mine comes to me looking for cash management guie with his baby Oanda account...
    often times he know what I mean because I tell him he ought to be buying such and such amount of contracts based on his own risk profile.

    He keeps telling me that Oanda doesn't have contracts, it has units, and then comes up with bizzare money management schemes that often times do not make sense.

    Thus, in Oanda, is a Unit a contract, or is a Unit simply a US dollar, or even a dollar in the currency pair in question...

    I would presume that if a Unit is a Dollar in a given pair, which its based off the first recorded currency (GBP\EUR) would have a Unit = 1 sterling.

    Is this right?

  2. #2
    You will find 100,000 units at a normal lot.5 lot is 50k and so forth.

  3. #3
    Got it. The unit is the same as a currency pair dollar.

    Component of the confusion came out of my buddies definition of an Oanda Unit evolving every other day into something different. The confusion has to have over took me.

    I will just demo Oanda this day to be certain everything works as I believe it does now...

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