Is it a shame not to know how to make money in the forex market after 8 years of experience? - page 24

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Georgiy Merts #:

Did you expect anything else from Sprut-Dasha-Baskakov?

It seems to have always been the case:

  • A point is the minimum change in price.
  • Pips is derived from pips, percentage in point (s). Not relevant for MT4-5 (and forex in general).

No, it's not like that at all.

Different exchanges used to trade for different money, the units of which (yen, mark, pound, dollar, etc.) were called pips. The purpose was to develop a common terminology and methodology, applicable to trading on any exchange.

Then came Forex with its lots and margin trading. In fact, there was only one currency left, the dollar, all the others gained the status of commodities. The point became a cent - the minimum tangible unit of price change. For the crosses the picture is somewhat distorted, but the pip is always and everywhere a minimum tangible unit of price change, which can be held in the hands of cash. Accordingly, for any currency pair XXXUSD a pip is the second digit after the decimal point. Later, the need to increase the precision of results representation appeared, since the lots are huge - the concept of pip appeared - the percentage inside a pip is the fourth digit. After that, automation systems appeared and the terminology that had been established for centuries got out of hand.

 
Алексей Тарабанов #:

No, it's not like that at all.

Yeah, it's hard for a rusty brain to accept that you've been using the term incorrectly for ten or twenty years, having learned it from some illiterate trader

 

Даниил Минин #:
Все ищут грааль. Грааль это 100% в месяц.

I'll lower the bar -- 50% per year with a PV of 10+. got anything to offer?

 
Andrei Trukhanovich #:

Yeah, it's hard for a rusty brain to accept that you've been using the term incorrectly for ten or twenty years, having learned it from some illiterate traidun

Almost thirty. MT wasn't in the draft then, but the clause was already there. Metastock appeared around that time.

 
Алексей Тарабанов #:

Almost thirty. MT was not in the project then, but the item was already there. Metastock appeared around that time.

Read MQL help - The _Point variable stores the point size of the current instrument in the quote currency.
 
zvezdocheet #:
Read MQL help - the _Point variable stores the point size of the current symbol in the quote currency.
There is a subtle point - the help does not say anywhere what a point is
 
Brokers stick to mark the 5th digit of the fractional part as 0.x points.
 
E38 #:

That last one is also nonsense. Obviously, if the margin is not enough, more needs to be added!

And as for the TC question - if one could really learn profitable trading by mastering a certain set of knowledge and skills, all traders would have already done so. As a result the market would become efficient, in other words it would cease to exist. Only the inefficiency of the market (caused by different ideas of participants about the fair price of an asset) allows it to function.

In an efficient market, every single person would make money)

 
There is a project that will be very profitable, but few people will fit in, some are stupid, some are not active enough, but mostly people just don't want profit beyond their comfort level.
 
Yes, it's a shame not to start earning with eight years' experience. I made $600 with a deposit of $80. It's time to start earning. To start earning you need to read books by the masters of the financial market and get information on forums. First you have to learn (better to learn by yourself) - then you will start real trading.
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