What is a TICK? - page 3
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Hmm,
I had thought that TICKSIZE and TICKVALUE were absolute values.
However, I'm sure that I've seen an MT4 log somewhere around the net which would suggest TICKSIZE and TICKVALUE are relative values - displacements if you like, with TICKVALUE occasionally reflecting the number of pips movement since last tick and TICKVALUE representing the delta value in deposit currency.
CB.
TICK_VALUE can change.
Pairs such as XXX/YYY where YYY is the deposit currency, are fixed... In the case of YYY = USD, $10/$1/$0.10 depending on lot size and tick size.
Pairs such as XXX/YYY where YYY is NOT the deposit currency have to be calculated according to current exchange rates.
.
Will monitor both, just to be sure.
TICK_VALUE can change.
Pairs such as XXX/YYY where YYY is the deposit currency, are fixed... In the case of YYY = USD, $10/$1/$0.10 depending on lot size and tick size.
Pairs such as XXX/YYY where YYY is NOT the deposit currency have to be calculated according to current exchange rates.
.
Will monitor both, just to be sure.
Yes, I understand that TICKVALUE can change. And I understand the situation regarding base currency and deposit currency.
I'm talking about it changing - not due to exchange rate fluctuation - but due to TICKSIZE fluctuation as follows:
eg. EURUSD with EUR deposit currency:
10:30:01 - TICKSIZE = 0.0001, TICKVALUE = 7.16
10:30:02 - TICKSIZE = 0.0001, TICKVALUE = 7.16
10:30:04 - TICKSIZE = 0.0002, TICKVALUE = 14.32
10:30:05 - TICKSIZE = 0.0001, TICKVALUE = 7.16
eg. EURUSD with USD deposit currency:
10:30:01 - TICKSIZE = 0.0001, TICKVALUE = 10.00
10:30:02 - TICKSIZE = 0.0001, TICKVALUE = 10.00
10:30:04 - TICKSIZE = 0.0002, TICKVALUE = 20.00
10:30:05 - TICKSIZE = 0.0001, TICKVALUE = 10.00
These aren't actual log files - just my creation to explain what I'm getting at. But I'm sure I've seen this in the wild.
CB
MODE_TICKSIZE doesn't change unless the Dealer makes fundamental changes to the trading conditions for the pair.
MODE_TICKSIZE doesn't change unless the Dealer makes fundamental changes to the trading conditions for the pair.
Phy, I managed to find the reference I mentioned.
I'd appreciate your thoughts, as it would throw some of our calculations out if it happened at the wrong time.
http://www.forexfactory.com/showthread.php?t=142170
Ta.
CB
I've never noticed it.
Value is controlled by Dealer.
Which Dealer?
Demo or live?
I've never noticed it.
Value is controlled by Dealer.
Which Dealer?
Demo or live?
No idea. But you can see why it got my attention! :-)
CB
MODE_TICKSIZE doesn't change unless the Dealer makes fundamental changes to the trading conditions for the pair.
Ok, now I've found an example whilst trading Gold (XAUUSD). Not, admittedly, an example of Tick Size changing spontaneously, but it exhibits the implication that concerned me enough at the time that prompted me to post here.
Point is 0.01, Tick Value is 5.00, however Tick Size is 0.05.
So in order to have a universal formula for calculating position sizes and reporting risk, I've substituted...
MarketInfo(Symbol(),MODE_TICKVALUE)
with
(MarketInfo(Symbol(),MODE_TICKVALUE)*Point)/MarketInfo(Symbol(),MODE_TICKSIZE)
...in the various formulae that I use.
It works like a dream, and I now have EAs which perform risk management correctly across all instruments.
CB
It is not uncommon to have an "odd" value for ticksize
Bonds.
Report for ZNU9
117.46875 MODE_LOW Low day price.
117.875 MODE_HIGH High day price.
2009.08.18 20:05:48 MODE_TIME The last incoming tick time (last known server time).
117.5 MODE_BID Last incoming bid price. For the current symbol, it is stored in the predefined variable Bid
117.5 MODE_ASK Last incoming ask price. For the current symbol, it is stored in the predefined variable Ask
0.00001 MODE_POINT Point size in the quote currency. For the current symbol, it is stored in the predefined variable Point
5 MODE_DIGITS Count of digits after decimal point in the symbol prices. For the current symbol, it is stored in the predefined variable Digits
0 MODE_SPREAD Spread value in points.
15 MODE_STOPLEVEL Stop level in points.
1 MODE_LOTSIZE Lot size in the base currency.
31.25 MODE_TICKVALUE Tick value in the deposit currency.
0.03125 MODE_TICKSIZE Tick size in the quote currency.
0 MODE_SWAPLONG Swap of the long position.
0 MODE_SWAPSHORT Swap of the short position.
0 MODE_STARTING Market starting date (usually used for futures).
1251586800 MODE_EXPIRATION Market expiration date (usually used for futures).
1 MODE_TRADEALLOWED Trade is allowed for the symbol.
0.01 MODE_MINLOT Minimum permitted amount of a lot.
0.01 MODE_LOTSTEP Step for changing lots.
20 MODE_MAXLOT Maximum permitted amount of a lot.
0 MODE_SWAPTYPE Swap calculation method. 0 - in points; 1 - in the symbol base currency; 2 - by interest; 3 - in the margin currency.
2 MODE_PROFITCALCMODE Profit calculation mode. 0 - Forex; 1 - CFD; 2 - Futures.
2 MODE_MARGINCALCMODE Margin calculation mode. 0 - Forex; 1 - CFD; 2 - Futures; 3 - CFD for indices.
960 MODE_MARGININIT Initial margin requirements for 1 lot.
480 MODE_MARGINMAINTENANCE Margin to maintain open positions calculated for 1 lot.
0 MODE_MARGINHEDGED Hedged margin calculated for 1 lot.
960 MODE_MARGINREQUIRED Free margin required to open 1 lot for buying.
0 MODE_FREEZELEVEL Order freeze level in points. If the execution price lies within the range defined by the freeze level, the order cannot be modified, cancelled or closed.
It is not uncommon to have an "odd" value for ticksize
Bonds.
Report for ZNU9
Well, if you're going to try trading futures through MT4, that's what you get <g>. The 2 and 5 year notes are even worse - they're quoted in 128ths, which translates to a tick size of 0.0078125.