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points == pips?

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Dua Yong Rew
5438
Dua Yong Rew  

is it the same?

ulong Deviation=20;
mytrade.SetDeviationInPoints(Deviation);

 so is = 20 pips???

Alain Verleyen
Moderator
31186
Alain Verleyen  
doshur:

is it the same?

 so is = 20 pips???

Why ?

SetDeviationInPoints

It's clearly in points. A pip is a very unprecise unit.

Dua Yong Rew
5438
Dua Yong Rew  
angevoyageur:

Why ?

It's clearly in points. A pip is a very unprecise unit.

for example eurusd 1.12345

so 20 actually means 0.00020? 

Sergey Golubev
Moderator
94683
Sergey Golubev  
  • for example (in case of 5 digit broker): buy at 1,30305 and take profit at 1.30605. Profit is 30 pips, or 300 points.
  • the other example (in case of 4 digit broker): buy at 1,30305 and take profit at 1.30605. Profit is 30 pips, or 30 points.

pips = 4 digit points in case of 4 digit broker, and 1 pip = 10 points in case of 5 digit broker ... some people say that we will have 6 digit brokers soon :) who knows ...

Many traders are using pips (4 digit points) irrespective of how many digits are having the broker at the price.

Alain Verleyen
Moderator
31186
Alain Verleyen  
doshur:

for example eurusd 1.12345

so 20 actually means 0.00020? 

Yes
Dua Yong Rew
5438
Dua Yong Rew  
ok. im clear now. thanks for all the reply
Alexander Piechotta
6977
Alexander Piechotta  

Supports MetaTrader 5, broker with only 4 digits?

Dua Yong Rew
5438
Dua Yong Rew  
FinGeR:

Supports MetaTrader 5, broker with only 4 digits?

I think only 5 digits no 4.
graziani
1969
graziani  
doshur:

for example eurusd 1.12345

so 20 actually means 0.00020? 

 

For calculations on every instrument, you should use this values:

tickSize = SymbolInfoDouble(symbol, SYMBOL_TRADE_TICK_SIZE);
tickValue = SymbolInfoDouble(symbol, SYMBOL_TRADE_TICK_VALUE);

So tickSize is the minimal price change, and tickValue is the value of one tick in the currency of your account.

Alain Verleyen
Moderator
31186
Alain Verleyen  
graziani:

Pip is the most precise definition you can have.

One pip is the smallest difference between two values.

So if you have €$ on 5 digits broker, one pip is 0.00001.

For €$ on 4 digits broker, one pip is 0.0001.

For GOLD, one pip is 0.01. 

It's YOUR definition, so of course it's very precise to you. What you said confirm exactly what I wrote  : "A pip is a very unprecise unit." Its definition varies from person to person. What you define as a pip is actually a point.
graziani
1969
graziani  
angevoyageur:
It's YOUR definition, so of course it's very precise to you. What you said confirm exactly what I wrote  : "A pip is a very unprecise unit." Its definition varies from person to person. What you define as a pip is actually a point.
It is not my definition, but a standard definition of a pip. Read the next post.
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