I don't understand my account history
Hi Jerry,
Some brokers use 5/3 decimal places and some use 4/2.
For EURUSD 0.00010 on a 5/3 broker = 0.0001 on a 4/2 broker. Lets call that a pip. Let's call 0.00001 a micropip. So yes, I'd call that 59.6 pips.
A volume of 1.00 means that for EURUSD each pip will represent $10 (each micropip will represent $1). And to have a position size of 1.00, you need a margin of $100,000 at 1:1 leverage, $50,000 at 2:1 leverage etc.
Since your account is in British Pounds, applying the GBPUSD rate means that each pip represents (10 / 1.6679) = £5.99. You can check this by using MarketInfo(Symbol(),MODE_TICKVALUE) in your EA.
You made 59.6 pips so your profit expressed in deposit currency is (£5.99 x 59.6) = £357.
CB
Hi Jerry,
Some brokers use 5/3 decimal places and some use 4/2.
For EURUSD 0.00010 on a 5/3 broker = 0.0001 on a 4/2 broker. Lets call that a pip. Let's call 0.00001 a micropip. So yes, I'd call that 59.6 pips.
A volume of 1.00 means that for EURUSD each pip will represent $10 (each micropip will represent $1). And to have a position size of 1.00, you need a margin of $100,000 at 1:1 leverage, $50,000 at 2:1 leverage etc.
Since your account is in British Pounds, applying the GBPUSD rate means that each pip represents (10 / 1.6679) = £5.99. You can check this by using MarketInfo(Symbol(),MODE_TICKVALUE) in your EA.
You made 59.6 pips so your profit expressed in deposit currency is (£5.99 x 59.6) = £357.
CB
Thank you so much. Explained very clearly.
Cheers!
-Jerry
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I've been playing around with a demo account. Yesterday (7 Aug 2009) I went short on EURUSD at 1.42357 and took profits at 1.41761. This is a total of 0.00596. Do I interpret that as 59.6 pips?
When I traded I set the volume to 1.00. Is this £1? (I'm from UK). What actually is volume?
I made £357.41, and I've no idea where that figure came from as it seems to bear no relationship to 59.6 pips @ £1 /pip (actually a relationship of 0.1666:1).
Clearly I'm missing something.
-Jerry