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Standered pip is 0.0001 for 4digit brokers
mini pip is 0.00001 for 5digit brokers
Standered pip is 0.0001 for 4digit brokers
mini pip is 0.00001 for 5digit brokers
Thanks for you all for comments, this poll was created after this post below (Trading Systems topic from doshur), that may help you in this debate.
Forum on trading, automated trading systems and testing trading strategies
figurelli, 2014.02.15 05:42
I totally agree that pip is today an imprecise unit that definition varies from person to person.
I mean today because one day in the past, when 1 pip was 1 point for Forex, it was precise.
However, now we have more digits and platforms, like MT5, trading Forex and Stocks, where pips have no precise meaning as points do. So now we don't have anymore a standard pips definition, because points value is not static.
So, with this change, we don't have more a precise pip definition, since someone can use old reference (pip==0.0001 for EUR/USD) and other can use pips as the same as points (pip==point). To be honest, I prefer the old one, since I was used to, but you can use your reference for pip and you are right to, since original definition of pip was really one point in Forex.
Anyway, I just see two possibilities for pip definition. The old one (pip==0.0001 for EUR/USD forever) or the new one (pip==point whatever value point is now or will be in the future). What do you guys prefer?
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.01.06 18:38
What is the Pip Cost for Gold and Silver?
- Gold: Symbol XAU/USD
The pip cost for 1 ounce of Gold (minimum trade size) is $0.01 per pip. - Silver: Symbol XAG/USD
The pip cost for 50 ounces of Silver (minimum trade size) is $0.50 per pip
example :
MetaTrader Trading Platform Screenshots
MetaQuotes Software Corp., MetaTrader 5, Demo
XAUUSD M5 : 539 pips price movement by CNY - Trade Balance news event
A pip is 1 and this pip is equal to(in the case of EURUSD) a change of the value of the currency pair by 0.0001 in the case of EURUSD. The same way you can say 1 ton is equal to 1000kg. You cant however term 0.0001 as 0.0001 pips as this represents 1 pip and if pip is to be added after it the value should be 1 not 0.0001.
example :
I have subsidiary question : what is a pip for XAUUSD (GOLD) ?
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