PIP vs Currency Pair decimals
first 0.00000 is 5 decimal not 6 decimal
second this called point not A pip
A pip is 1/100th of a cent, to put it in U.S. dollar terms. 1.4350 means $1.4350, or one dollar and forty-three and a half cents. The pip is the forth decimal, so 1.4351 is one pip more than 1.4350. When you see a quote like 1.43501, the last "1" is a pipette, or one thousandth of a cent.
Here's a link to babypips with more information if you're interested.
A pip is 1/100th of a cent, to put it in U.S. dollar terms. 1.4350 means $1.4350, or one dollar and forty-three and a half cents. The pip is the forth decimal, so 1.4351 is one pip more than 1.4350. When you see a quote like 1.43501, the last "1" is a pipette, or one thousandth of a cent.
Here's a link to babypips with more information if you're interested.
Thanks NoJobRob!
//++++ These are adjusted for 5 digit brokers. int pips2points; // slippage 3 pips 3=points 30=points double pips2dbl; // Stoploss 15 pips 0.0015 0.00150 int Digits.pips; // DoubleToStr(dbl/pips2dbl, Digits.pips) int init(){ if (Digits == 5 || Digits == 3){ // Adjust for five (5) digit brokers. pips2dbl = Point*10; pips2points = 10; Digits.pips = 1; } else { pips2dbl = Point; pips2points = 1; Digits.pips = 0; } // OrderSend(... Slippage.Pips * pips2points, Bid - StopLossPips * pips2dbl
On a 5 digit broker a point is not a pip, it's 1/10 pip. EA's must adjust pips to points for TP, SL, AND slippage
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I trade with IBFX on the MT4 platform. I have noticed that a currency pair like EUR/USD has 6 decimals 0.00000 but when people talk about PIPs gained they only use 5 decimals 0.0000. And the same is for a currency pair like USD/JPY that has 5 decimals but when talking of PIP profits only 4 decimals are used. Why is this? or do some people include all the decimals and count them as PIPs gained?