Parkerrush92
New member
- Joined
- Feb 26, 2016
- Messages
- 2
Hi everybody!
I'm a Forex trader and I've been struggling to create my perfect math spreadsheet. (pardon the professional lingo..Math spreadsheet, lol.) I'm hoping somebody wouldn't mind taking over and finishing a spreadsheet that details the cost of buying a specific currency pair, and the return on any given day based on a daily range and units available at a theorized margin. I have all the pertinent nitty gritty in the spreadsheet and I'll give an example to entice
There are 25 or so currency crosses that I as a trader have to choose from. The cost of these is the exchange rate in dollars plus a spread or commission. Each pair has a value for one point of movement called a pip or 1/100th of a cent, and an average daily range of movements varying from about 80-140 1/100ths of a cent. The value for each of these movements depends on the margin and leverage I hold, and range from 7-15$ per unit of currency held. (Forex trading is generally leveraged 1:50 in the united states.)
I'm trying to find the best of these currency pairs to trade on any given day based on their range, pip value, and cost
Here's the example (Finally I know)
The EUR/USD pair has an exchange rate at the time of writing of 1.1040, meaning that 1 Euro can be exchanged for 1.1040 dollars. Leveraged at 50:1 or 1:50 <---not good at math] one unit, or 100,000 Euros would cost $2208 USD (100,000*1.1040)/50.
Now, If your following along, I have this part down pat. Here's the next part of the equation: The euro/USD pair has a daily average range of 101 Pips or 101 1/100ths of a cent or in laymen terms, one penny. Each of pips has a leveraged value based on the number of units bought or sold. In this example, a euro/usd pip is equal to $10. From my understanding, I now have a potential return on investment of (101*10) (the 2208 is not really a cost because of technicalities, and I'm really only paying a spread plus the risk of losing.) ANYWAYS, the second part of my little equation is complete.
To simplify, the missing piece of this puzzle is the number of units available, the variability of the pip values, and the spread. If I take all of the factors into consideration I end up making indexes of all the variables and the real world results are just not quite right. I'm looking for help in one basic thing; to rank these currency pairs by their potential daily value, based on a set margin.
I'm sorry to take so long to get to the point, and If your interested in helping me with this, please let me know!
Thank you,
Parker
I'm a Forex trader and I've been struggling to create my perfect math spreadsheet. (pardon the professional lingo..Math spreadsheet, lol.) I'm hoping somebody wouldn't mind taking over and finishing a spreadsheet that details the cost of buying a specific currency pair, and the return on any given day based on a daily range and units available at a theorized margin. I have all the pertinent nitty gritty in the spreadsheet and I'll give an example to entice
There are 25 or so currency crosses that I as a trader have to choose from. The cost of these is the exchange rate in dollars plus a spread or commission. Each pair has a value for one point of movement called a pip or 1/100th of a cent, and an average daily range of movements varying from about 80-140 1/100ths of a cent. The value for each of these movements depends on the margin and leverage I hold, and range from 7-15$ per unit of currency held. (Forex trading is generally leveraged 1:50 in the united states.)
I'm trying to find the best of these currency pairs to trade on any given day based on their range, pip value, and cost
Here's the example (Finally I know)
The EUR/USD pair has an exchange rate at the time of writing of 1.1040, meaning that 1 Euro can be exchanged for 1.1040 dollars. Leveraged at 50:1 or 1:50
<---not good at math] one unit, or 100,000 Euros would cost $2208 USD (100,000*1.1040)/50.Now, If your following along, I have this part down pat. Here's the next part of the equation: The euro/USD pair has a daily average range of 101 Pips or 101 1/100ths of a cent or in laymen terms, one penny. Each of pips has a leveraged value based on the number of units bought or sold. In this example, a euro/usd pip is equal to $10. From my understanding, I now have a potential return on investment of (101*10) (the 2208 is not really a cost because of technicalities, and I'm really only paying a spread plus the risk of losing.) ANYWAYS, the second part of my little equation is complete.
To simplify, the missing piece of this puzzle is the number of units available, the variability of the pip values, and the spread. If I take all of the factors into consideration I end up making indexes of all the variables
and the real world results are just not quite right. I'm looking for help in one basic thing; to rank these currency pairs by their potential daily value, based on a set margin.I'm sorry to take so long to get to the point, and If your interested in helping me with this, please let me know!
Thank you,
Parker