[wonkabar]

I am new to this and have a basic question. Say I have an account denominated in usd and I want to trade $10k per pair. Do I need to convert the non usd pairs into usd or does it happen automatically? Say for example I am trading eur/gbp. Would I say I am buying $10k or would I have to convert it into the euro equiv to that?

A similar question would be how do people position size across pairs with different pip values? If I am still trading $10k per trade should I actually be trading more in pairs like usd/chf which have a lower value than in pairs like eur/gbp which are worth more?

any help or advice on how exactly people look at this would be appreciated. thanks