Is it a shame not to know how to make money in the forex market after 8 years of experience? - page 11
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And what have you shown? So far you're being stupid - denying the obvious. You press the wheel and measure it in the Metatrader.
the 4 mark he showed
the 4th digit is used in exchanges, the 5th digit in metatrader. we are talking about metatrader calculations, as the forum is about metatrader.
the 4th digit is used in exchanges, the 5th digit in Metatrader. we are talking about Metatrader calculations, as the forum is about Metatrader.
and mt has 4 digits too.
it all depends on the DT, i.e. what it broadcasts is what it will be.
I've even had this
i got a 5 digit, i asked the technical support department to make it a 4 and they did it ;)
the 4th digit is used in exchanges, the 5th digit is used in metatrader. we are talking about metatrader calculations, as the forum is about metatrader.
Well, it's not metatrader?
The eurodollar went through ~29 pips today
Well, it's not a metatrader?
The eurodollar passed ~29 pips today
well, are these quotes from the stock exchange?
This is from a regular dealing desk.
However, who cares where the quotes come from, so as not to be misleading, the term pips has been coined and it is the same everywhere, even if in the future some dealing desks will start quoting in hundredths of a pip.
This is from a regular dealing desk.
However, who cares where the quotes come from, so as not to be misleading, the term pips has been coined and it is the same everywhere, even if in the future some dealings will start quoting in hundredths of a pip.
It's just that the stock exchange uses 4 decimal places for currencies and 1 for gold. On the other hand, in Metatrader it can be a 4-digit, 5-digit and 2-digit for gold.
By the way, here is an interesting note about pips.
What is a pip, a point, a figure, and how does it measure a change in currency rates?
Currency pairs change in certain price ranges, usually not more than 1% per day on normal days, up to 1-3% in medium-volatile days, over 2% in high volatile days and very rarely in extremely high volatile days over 5% (usually in the case of very important political or economic events: strong currency and economic policy changes, major political changes, as well as disasters and force majeure).
A currency pair variation of approximately 1% is called a shape, a shape is equal to 100 pips or pips and 1 hundredth of a shape is 1 pip or point.
There is a slight misunderstanding and confusion among traders, caused by the Metatrader platform years ago, which mistakenly missed a comma in the pip count by multiplying the real number of pips by 10, hence the problem with so called old pips/pips or five digit pips and four digit pips.
For example, the Metatrader platform considers a change of about 1%, i.e. by 1 figure or 100 pips for a change of 1000 pips. In reality, however, there is a decimal point missing in this figure, i.e. the figure should look like 100.0. Since the non-professional Metatrader platform was created exclusively for forex kitchens, i.e. for people with extreme inexperience, this mistake only helped beginners to lose, creating an additional obstacle to profit.
In all professional platforms, as well as in exchanges, the standard is a pip or pips as a change of 0.01% of a currency pair.
Since most forex houses usually use Metatrader, you should always keep this feature in mind.
Thus, for example, the EURUSD drop from 1.12 to 1.11 was 1 figure or 100 pips. Normally the terminal shows up to 5 decimal places, but only the first 4 are significant. For example, in 1.1245: 2 means a figure or hundred pips, 4 means tens of pips and 5 means the smallest fraction, a pip or point. The Euro has thus risen 45 pips from 1.1200 to 1.1245.
Metatrader terminal usually displays currency rates in 5-digit format for currencies, which are approximately equal, i.e. having the format 1.xxxx(e.g. 1.10567). These are the Eurodollar, Pounddollar, Australiandollar, New Zealand dollar, etc. As well as cross rates such as eurgbp, eurchf, audnzd and others, which also go around the number 1 (from 0.50 to 1.5). The fifth digit is the fraction of a pip which is shown for information purposes only and is always rounded to whole pips in the calculation.
For example, a change from 1.05 to 1.05765 would be a change of 76.5 pips. Metatrader displays this as 765 pips, which is incorrect because of the reason described above.
Also, there are pairs with exchange rates much higher than 1, those are usually Yen crosses. For example USDJPY is 106.260. Here 6 represents a change of a figure or 100 pips, 2 represents tens of pips and 6 represents pips. Metatrader uses a 3-digit decimal point, but only the first 2 are decisive, as the last one is a fraction of a pip and is not relevant for the calculation.
For example, a rate change from 105,230 to 106,260 is 130 pips.
P.S. In fact, yen crosses can simply be divided by 100, then all the rules for near-unit rates will be relevant too. For example,
105.230/100 = 1.0523
106.260/100 = 1.0626
1.0523 and 1.0626 - the difference is the same 130 pips. Yes, yes, it's high time the Japs made a denomination, removed the two zeros and didn't fuck with their brains!
Exotic pairs like ZAR, HUF, PLN, TRY, RUB, etc., and also XAU and XAG have their own rules for pipsing, which you can figure out at your leisure. And if you are too lazy to figure it out, use a calculator.
It is just that the stock exchange uses a 4-digit decimal quotation for currencies and a 1-digit quotation for gold. In metatrader it can be either 4-digit or 5-digit.
By the way, here is an interesting note about pips.
What is a pip, a point, a shape, what is measured by a change in currency rates?
Currency pairs change in certain price ranges, usually not more than 1% per day on normal days, up to 1-3% in medium-volatile days, over 2% in highly volatile days and very rarely in highly volatile days over 5%. Usually this happens with very important political or economic events: strong currency and economic policy changes, major political changes as well as disasters or force majeure events.
A currency pair variation of approximately 1% is called a shape, a shape is equal to 100 pips or pips and 1 hundredth of a shape is 1 pip or point.
There is a slight misunderstanding and confusion among traders, caused by the Metatrader platform years ago, which mistakenly missed a comma in the pip count by multiplying the real number of pips by 10, hence the problem with so called old pips/pips or five digit pips and four digit pips.
For example, the Metatrader platform considers a change of about 1%, i.e. by 1 figure or 100 pips for a change of 1000 pips. In reality, however, there is a decimal point missing in this figure, i.e. the figure should look like 100.0. Since the non-professional Metatrader platform was created exclusively for forex kitchens, i.e. for people with extreme inexperience, this mistake only helped beginners to lose, creating an additional obstacle to profit.
In all professional platforms, as well as in exchanges, the standard is a pip or pips as a change of 0.01% of a currency pair.
Since most forex houses usually use Metatrader, you should always keep this feature in mind.
Thus, for example, the EURUSD drop from 1.12 to 1.11 was 1 figure or 100 pips. Normally the terminal shows up to 5 decimal places, but only the first 4 are significant. For example, in 1.1245: 2 means a figure or hundred pips, 4 means tens of pips and 5 means the smallest fraction, a pip or point. The Euro has thus risen 45 pips from 1.1200 to 1.1245.
Metatrader terminal usually displays currency rates in 5-digit format for currencies, which are approximately equal, i.e. having the format 1.xxxx(e.g. 1.10567). These are Eurodollar, Pounddollar, Australiandollar, New Zealanddollar, etc. As well as cross rates such as eurgbp, eurchf, audnzd and others, which also go around the number 1 (from 0.50 to 1.5). The fifth digit is the fraction of a pip which is shown for information purposes only and is always rounded to whole pips in the calculation.
For example, a change from 1.05 to 1.05765 would be a change of 76.5 pips. Metatrader displays this as 765 pips, which is incorrect because of the reason described above.
Also, there are pairs with exchange rates much higher than 1, those are usually Yen crosses. For example USDJPY is 106.260. Here 6 represents a change of a figure or 100 pips, 2 represents tens of pips and 6 represents pips. Metatrader uses a 3-digit decimal point, but only the first 2 are decisive, as the last one is a fraction of a pip and is not relevant for the calculation.
For example, a rate change from 105,230 to 106,260 is 130 pips.
P.S. In fact, yen crosses can simply be divided by 100, then all the rules for near-unit rates will be relevant too. For example,
105.230/100 = 1.0523
106.260/100 = 1.0626
1.0523 and 1.0626 - the difference is the same 130 pips. Yes, yes, it's high time the Japs made a denomination, removed the two zeros and didn't fuck with their brains!
Exotic pairs like ZAR, HUF, PLN, TRY, RUB, etc., and also XAU and XAG have their own rules for pipsing, which you can figure out at your leisure. If you are too lazy to do it, use a calculator.
This is already known and even highlighted in Metatrader
This is already known and even highlighted in metatrader
Then what's the problem? In my metatrader 1 quid change in gold equals 100 pips. 1 cent of change in currencies (except some exotics and yen) equals 1000 pips.
This is the basis for my posts, I'm sure most people have the same settings.
Then what's the problem? In my metatrader 1 quid change in gold equals 100 pips. 1 cent change in currencies (except some exotics and yen) equals 1000 pips.
This is the basis for my posts, I'm sure most have the same settings.
These are the key phrases.
This is the case for you and not for others.
That's why you need to use common terms, not individual ones.