Why is tick size in USDJPY as in 5 digits pairs?

New comment
  
2011.01.03 - 00:00:00 - - - *******************New Bar************************************
2011.01.03 - 00:00:00 - - - Symbol=AUDUSD
2011.01.03 - 00:00:00 - - - TICKVALUE=1.00000000
2011.01.03 - 00:00:00 - - - TICKSIZE=0.00001000
2011.01.03 - 00:00:00 - - - POINT=0.00001000
2011.01.03 - 00:00:00 - - - DIGITS=5.00000000
2011.01.03 - 00:00:00 - - - SPREAD=22.00000000
2011.01.03 - 00:00:00 - - - STOPLEVEL=30.00000000
2011.01.03 - 00:00:00 - - - LOTSIZE=100000.00000000
2011.01.03 - 00:00:00 - - - MINLOT=0.01000000
2011.01.03 - 00:00:00 - - - LOTSTEP=0.01000000
2011.01.03 - 00:00:00 - - - MAXLOT=10000.00000000
2011.01.03 - 00:00:00 - - - MARGINREQUIRED=2044.50000000
2011.01.03 - 00:00:00 - - - AccountLeverage()=50
2011.01.03 - 00:00:00 - - - Ask=1.02236000
2011.01.03 - 00:00:00 - - - Bid=1.02214000
2010.03.01 - 00:00:00 - - - *******************New Bar************************************
2010.03.01 - 00:00:00 - - - Symbol=EURUSD
2010.03.01 - 00:00:00 - - - TICKVALUE=1.00000000
2010.03.01 - 00:00:00 - - - TICKSIZE=0.00001000
2010.03.01 - 00:00:00 - - - POINT=0.00001000
2010.03.01 - 00:00:00 - - - DIGITS=5.00000000
2010.03.01 - 00:00:00 - - - SPREAD=14.00000000
2010.03.01 - 00:00:00 - - - STOPLEVEL=20.00000000
2010.03.01 - 00:00:00 - - - LOTSIZE=100000.00000000
2010.03.01 - 00:00:00 - - - MINLOT=0.01000000
2010.03.01 - 00:00:00 - - - LOTSTEP=0.01000000
2010.03.01 - 00:00:00 - - - MAXLOT=10000.00000000
2010.03.01 - 00:00:00 - - - MARGINREQUIRED=2724.60000000
2010.03.01 - 00:00:00 - - - AccountLeverage()=50
2010.03.01 - 00:00:00 - - - Ask=1.36237000
2010.03.01 - 00:00:00 - - - Bid=1.36223000
2011.01.03 - 00:00:00 - - - *******************New Bar************************************
2011.01.03 - 00:00:00 - - - Symbol=GBPUSD
2011.01.03 - 00:00:00 - - - TICKVALUE=1.00000000
2011.01.03 - 00:00:00 - - - TICKSIZE=0.00001000
2011.01.03 - 00:00:00 - - - POINT=0.00001000
2011.01.03 - 00:00:00 - - - DIGITS=5.00000000
2011.01.03 - 00:00:00 - - - SPREAD=25.00000000
2011.01.03 - 00:00:00 - - - STOPLEVEL=30.00000000
2011.01.03 - 00:00:00 - - - LOTSIZE=100000.00000000
2011.01.03 - 00:00:00 - - - MINLOT=0.01000000
2011.01.03 - 00:00:00 - - - LOTSTEP=0.01000000
2011.01.03 - 00:00:00 - - - MAXLOT=10000.00000000
2011.01.03 - 00:00:00 - - - MARGINREQUIRED=3108.84000000
2011.01.03 - 00:00:00 - - - AccountLeverage()=50
2011.01.03 - 00:00:00 - - - Ask=1.55454000
2011.01.03 - 00:00:00 - - - Bid=1.55429000
2011.01.03 - 00:00:00 - - - *******************New Bar************************************
2011.01.03 - 00:00:00 - - - Symbol=USDCAD
2011.01.03 - 00:00:00 - - - TICKVALUE=1.01652876
2011.01.03 - 00:00:00 - - - TICKSIZE=0.00001000
2011.01.03 - 00:00:00 - - - POINT=0.00001000
2011.01.03 - 00:00:00 - - - DIGITS=5.00000000
2011.01.03 - 00:00:00 - - - SPREAD=25.00000000
2011.01.03 - 00:00:00 - - - STOPLEVEL=40.00000000
2011.01.03 - 00:00:00 - - - LOTSIZE=100000.00000000
2011.01.03 - 00:00:00 - - - MINLOT=0.01000000
2011.01.03 - 00:00:00 - - - LOTSTEP=0.01000000
2011.01.03 - 00:00:00 - - - MAXLOT=10000.00000000
2011.01.03 - 00:00:00 - - - MARGINREQUIRED=2000.00000000
2011.01.03 - 00:00:00 - - - AccountLeverage()=50
2011.01.03 - 00:00:00 - - - Ask=0.99397000
2011.01.03 - 00:00:00 - - - Bid=0.99372000
2010.03.01 - 00:00:00 - - - *******************New Bar************************************
2010.03.01 - 00:00:00 - - - Symbol=USDCHF
2010.03.01 - 00:00:00 - - - TICKVALUE=1.05104947
2010.03.01 - 00:00:00 - - - TICKSIZE=0.00001000
2010.03.01 - 00:00:00 - - - POINT=0.00001000
2010.03.01 - 00:00:00 - - - DIGITS=5.00000000
2010.03.01 - 00:00:00 - - - SPREAD=23.00000000
2010.03.01 - 00:00:00 - - - STOPLEVEL=40.00000000
2010.03.01 - 00:00:00 - - - LOTSIZE=100000.00000000
2010.03.01 - 00:00:00 - - - MINLOT=0.01000000
2010.03.01 - 00:00:00 - - - LOTSTEP=0.01000000
2010.03.01 - 00:00:00 - - - MAXLOT=10000.00000000
2010.03.01 - 00:00:00 - - - MARGINREQUIRED=2000.00000000
2010.03.01 - 00:00:00 - - - AccountLeverage()=50
2010.03.01 - 00:00:00 - - - Ask=1.07441000
2010.03.01 - 00:00:00 - - - Bid=1.07418000
2011.01.03 - 00:00:00 - - - *******************New Bar************************************
2011.01.03 - 00:00:00 - - - Symbol=USDJPY
2011.01.03 - 00:00:00 - - - TICKVALUE=1.20009121
2011.01.03 - 00:00:00 - - - TICKSIZE=0.00001000
2011.01.03 - 00:00:00 - - - POINT=0.00100000
2011.01.03 - 00:00:00 - - - DIGITS=3.00000000
2011.01.03 - 00:00:00 - - - SPREAD=20.00000000
2011.01.03 - 00:00:00 - - - STOPLEVEL=30.00000000
2011.01.03 - 00:00:00 - - - LOTSIZE=100000.00000000
2011.01.03 - 00:00:00 - - - MINLOT=0.01000000
2011.01.03 - 00:00:00 - - - LOTSTEP=0.01000000
2011.01.03 - 00:00:00 - - - MAXLOT=10000.00000000
2011.01.03 - 00:00:00 - - - MARGINREQUIRED=2000.00000000
2011.01.03 - 00:00:00 - - - AccountLeverage()=50
2011.01.03 - 00:00:00 - - - Ask=81.12600000
2011.01.03 - 00:00:00 - - - Bid=81.10600000
 
1121048:

Isn't tick size the same as point?
 

ticksize is the minimum granularity at which the broker will quote prices for the financial instrument in question.

point is the minimum granularity at which the broker will accept market orders from you in relation to trading (entry prices, stops, exit prices, etc).

Are you a US citizen? Think about gasoline prices, the gas station will quote you prices per gallon to the third decimal ($3.199 per gallon) but they can only accept your money to the second decimal place (0.01) on the total purchase.

They are quoting you in ticksize intervals, you are paying at point intervals.

 
1005phillip:

ticksize is the minimum granularity at which the broker will quote prices for the financial instrument in question.

point is the minimum granularity at which the broker will accept market orders from you in relation to trading (entry prices, stops, exit prices, etc).

Are you a US citizen? Think about gasoline prices, the gas station will quote you prices per gallon to the third decimal ($3.199 per gallon) but they can only accept your money to the second decimal place (0.01) on the total purchase.

They are quoting you in ticksize intervals, you are paying at point intervals.


Thanx Phillip,

I'm sorry I didn't ask the right question. What I meant was that the MarketInfo(Symbol(),TICK_SIZE) should return the tick size for the quote currency. Right?

In the documentation I have it says

MODE_TICKSIZE 17 Tick size in points.
MODE_TICKSIZE 17 Tick size in points.

MODE_TICKSIZE 17 Tick size in points.

However in this other post :https://www.mql5.com/en/forum/109552/page2 it says:

MODE_TICKSIZE 17 Tick size in the quote currency.

In my printout, the last pair USDJPY the quote currency is JPY and the base currency is the USD. So, shouldn't the right return from MarketInfo in this case has to be 0.001?

 

Does anyone knows what is the return for MarketInfo(Symbol(),TICK_SIZE)? Is it the size of the quote currency(second currency in the pair) or is it the size of the base currency(first one in the pair)?

I have conflicting information(see above)

Also, What rate is used to calculate TICK_VALUE ? Ask or Bid?

Thanks in advance guys

 

ticksize is defined by the broker, they could make 0.000000000000001 or 5 if they wanted.

Most brokers who let you trade gold on MT4, for example, might set point to be 0.01 but ticksize will be 0.05 which means prices will only be quoted in 0.05 increments, but the point is 0.01 because you have two decimal places to contend with. (Digits == 2)

There is no requirement, nor need, for point == ticksize. There is a matter of convenience to be had if the broker does make these equal, but it is not required.

 
1005phillip:

ticksize is defined by the broker, they could make 0.000000000000001 or 5 if they wanted.

Most brokers who let you trade gold on MT4, for example, might set point to be 0.01 but ticksize will be 0.05 which means prices will only be quoted in 0.05 increments, but the point is 0.01 because you have two decimal places to contend with. (Digits == 2)

There is no requirement, nor need, for point == ticksize. There is a matter of convenience to be had if the broker does make these equal, but it is not required.


Thank you Phillip,

So, what is the use for TICK_SIZE if the broker can send whatever he/she wants?

What about my second question? Can it be calculated same way you do with pip value? value=(point/rate)*lot size.

Thanks

 

You must ensure you have quantized your price values for all your activity to that required by ticksize. Much in the same way that you quantize your lotsize to account for the broker's MINLOT and LOTSTEP requirements.

Regarding your "second" question - I don't understand what you are asking. Are you asking how to manually calculate tickvalue based on ticksize or some such?

 
1005phillip:

You must ensure you have quantized your price values for all your activity to that required by ticksize. Much in the same way that you quantize your lotsize to account for the broker's MINLOT and LOTSTEP requirements.

Regarding your "second" question - I don't understand what you are asking. Are you asking how to manually calculate tickvalue based on ticksize or some such?


Yep, that was basically my second question: How to manually calculate tick value. I though it was the same as calculating pip values. I was wrong. Anyway, thank you for your time, I just found among the hundred of post in this matter what I was looking for.https://www.mql5.com/en/forum/126450/page4

Tank you Phillip for your time. Much appreciated

New comment
Reason: