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TickValue

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Taskin Osman
837
Taskin Osman  

I have detected a broker which has the TickValue for EURUSD with basecurrency USD 0.0001 and they stick stating that this value is correct. I am quite sure it should be 1.000. I would appreciate some comments about this. Regarding my experience TickValue is beeing used on PL calculations from EAs and having a 0.0001 as TickValue will cause that EAs enter much bigger risks then they should, this may even cause bankruptcy and many EAs will not work because they would calculate the LotSize alot bigger then broker allows.

 

Some comments are appreciated, so i oversee something 

Simon Gniadkowski
Moderator
18047
Simon Gniadkowski  
fx1.net:

I have detected a broker which has the TickValue for EURUSD with basecurrency USD 0.0001 and they stick stating that this value is correct. I am quite sure it should be 1.000. I would appreciate some comments about this. Regarding my experience TickValue is beeing used on PL calculations from EAs and having a 0.0001 as TickValue will cause that EAs enter much bigger risks then they should, this may even cause bankruptcy and many EAs will not work because they would calculate the LotSize alot bigger then broker allows.

 

Some comments are appreciated, so i oversee something 

I think you are correct . . .

MODE_TICKVALUE16Tick value in the deposit currency.

 

What TICKVALUE do they have for other XXXUSD pairs ?  they should all be 1.00 

Taskin Osman
837
Taskin Osman  
Raptor: GBPUSD&AUDUSD both have 0.0001
whroeder1
16572
whroeder1  
Don't use tick value by itself
//double PipValuePerLot(string pair=""){ return(DeltaValuePerLot(pair)*pips2dbl);}
double DeltaValuePerLot(string pair=""){
    //{ Value in account currency of a Point of Symbol.
    // In tester I had a sale: open=1.35883 close=1.35736 (0.0147)
    // gain$=97.32/6.62 lots/147 points=$0.10/point or $1.00/pip.
    // IBFX demo/mini       EURUSD TICKVALUE=0.1 MAXLOT=50 LOTSIZE=10,000
    // IBFX demo/standard   EURUSD TICKVALUE=1.0 MAXLOT=50 LOTSIZE=100,000
    //                                  $1.00/point or $10.0/pip.
    //
    // https://forum.mql4.com/33975 CB: MODE_TICKSIZE will usually return the
    // same value as MODE_POINT (or Point for the current symbol), however, an
    // example of where to use MODE_TICKSIZE would be as part of a ratio with
    // MODE_TICKVALUE when performing money management calculations which need
    // to take account of the pair and the account currency. The reason I use
    // this ratio is that although TV and TS may constantly be returned as
    // something like 7.00 and 0.0001 respectively, I've seen this
    // (intermittently) change to 14.00 and 0.0002 respectively (just example
    // tick values to illustrate).
    // https://forum.mql4.com/43064#515262 zzuegg reports for non-currency DE30:
    // MarketInfo(chart.symbol,MODE_TICKSIZE) returns 0.5
    // MarketInfo(chart.symbol,MODE_DIGITS) return 1
    // Point = 0.1
    // Prices to open must be a multiple of ticksize
    //}
    if (pair == "") pair = Symbol();
    return(  MarketInfo(pair, MODE_TICKVALUE)
           / MarketInfo(pair, MODE_TICKSIZE) ); // Not Point.
}
Alain Verleyen
Moderator
33807
Alain Verleyen  
WHRoeder:
Don't use tick value by itself

You are right, but what it relationship with the problem mentioned here ?

A value of 0.0001 for TickValue is a non sense, I don't see any type of account or trading parameters that can explain that. For the date provided on post#1, the correct value is 1.0, like RaptorUk said.

I'm surprised such an error may occur, this can effectively be catastrophic for an EA. Yet another solution to find for developping a robust EA.

Taskin Osman
837
Taskin Osman  

WHRoeder,

if you check this screenshoot then your method should not work reliable on non-basecurrency pairs. On Left side is the "problematic-broker" and on right side is another broker.  I personally think nothing can replace TickValue.TickValue

Taskin Osman
837
Taskin Osman  

WHRoeder

I found out that this broker gives WL MT4 to many sub-brokers. And i found out there are many sub-brokers. And i also found that all those sub-brokers have same TickValue. And there are probably thousands of people using this Stream with their EAs. 

Now my theory is that almost all EAs they use MM will use Tickvalue and oversize the position sizing. Moreover on symbols without base currency tickvalue cannot be calculated too simply. Not all EA is prepared for those brokers (they are many).

My question is : do i see this thing too strict? Is the world really that relaxed? What do you guys think is the strategy of those brokers to publish wrong TickValue? Do they want keep distance from "professional"  traders they trade with position sizing and EAs?

thanks, every comment is welcome because we do argue with main broker why they do this. They simply tell me its their policy. 

Simon Gniadkowski
Moderator
18047
Simon Gniadkowski  
fx1.net:

WHRoeder

I found out that this broker gives WL MT4 to many sub-brokers. And i found out that all those sub-brokers. And i also found that all those sub-brokers have same TickValue. And there are probably thousands of people using this Stream with their EAs. 

Now my theory is that almost all EAs they use MM will use Tickvalue and oversize the position sizing. Moreover on symbols without base currency tickvalue cannot be calculated too simply. Not all EA is prepared for those brokers (they are many).

My question is : do i see this thing too strict? Is the world really that relaxed? What do you guys think is the strategy of those brokers to publish wrong TickValue? Do they want keep distance from "professional"  traders they trade with position sizing and EAs?

thanks, every comment is welcome because we not argue with main broker why they do this. They simply tell me its their policy. 

I think MetaQuotes would have something to say about this, perhaps you should report it via your Profile on the MT5 site (assuming you have one) to the Service Desk.

 

Too strict ?  nope, it doesn't have to be deliberate though,  there is plenty of scope for this error to be caused by incompetence,  there is plenty of it about. 

Paule Panke
123
Paule Panke  
This is a serious issue directly related to MQL coding. Please post the name of that broker, so we all can avoid him.
noonehastherighttojudgeanother
235
noonehastherighttojudgeanother  

is the leverage the same on both brokers?  mostly asking out of curiosity.

Taskin Osman
837
Taskin Osman  
serpentsnoir: i have tested different leverages and REAL and DEMO accounts on this mother broker. All same actually. Totally useless. I have the feeling that they want to exclude possible winnners.
12
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