Tick Value in Base Currency
JimRobo:
For 1.0 Lot it is the value (in the deposit currency) of one point movement. If you look at EURGBP you will get a tick value of 10.00
Being a newbie, I am struggling with understanding concept of TickValue.
A query with MarketInfo(GBPUSD, MODE_TICKVALUE) gives me 0.6515 for BID/ASK of 1.53513/1.53531, my deposit currency being GBP. Going by definition of tickValue -> ("Tick value in the deposit currency") and tick size being 0.00001, how does 0.6515 GBP indicate value of point/tick size ?
What is significance of TICKVALUE ? Is it value of one tick for a default lot size ?
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Being a newbie, I am struggling with understanding concept of TickValue.
A query with MarketInfo(GBPUSD, MODE_TICKVALUE) gives me 0.6515 for BID/ASK of 1.53513/1.53531, my deposit currency being GBP. Going by definition of tickValue -> ("Tick value in the deposit currency") and tick size being 0.00001, how does 0.6515 GBP indicate value of point/tick size ?
What is significance of TICKVALUE ? Is it value of one tick for a default lot size ?
Any help will be appreciated :)