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XAG/USD's lot size

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mop0
197
mop0 2014.02.19 17:57 

Something I learned recently was that when trading 1 lot of XAG/USD, the value per pip can vary depending on the broker.

For example, on SVS Securities broker, if you buy 1 lot, each pip movement is worth $50.00.

And on Admiral Markets broker, buying 1 lot means each pip movement is worth $5.00, which is 10 times less.

It seems to be arbitrarily set by the broker, so I just wanted to ask if the community if it is even remotely possible to determine this difference using code?

Simon Gniadkowski
Moderator
18001
Simon Gniadkowski 2014.02.19 18:14  
eempc:

Something I learned recently was that when trading 1 lot of XAG/USD, the value per pip can vary depending on the broker.

For example, on SVS Securities broker, if you buy 1 lot, each pip movement is worth $50.00.

And on Admiral Markets broker, buying 1 lot means each pip movement is worth $5.00, which is 10 times less.

It seems to be arbitrarily set by the broker, so I just wanted to ask if the community if it is even remotely possible to determine this difference using code?

MarketInfo() and MODE_TICKVALUE
whroeder1
14519
whroeder1 2014.02.19 18:38  
eempc: Something I learned recently was that when trading 1 lot of XAG/USD, the value per pip can vary depending on the broker.
It depends on the pair (XAG/USD), the broker's lot size (100K 10K etc) and your account currency. See my DeltaValuePerLot()
mop0
197
mop0 2014.02.19 18:50  
Will give these functions a go and see how I get on...
mop0
197
mop0 2014.02.19 19:15  
WHRoeder:
It depends on the pair (XAG/USD), the broker's lot size (100K 10K etc) and your account currency. See my DeltaValuePerLot()



Think I'll revisit your code at a later date, it's a bit complicated for me to understand at my current level of knowledge.

As for my silver problem, my broker SVS doesn't seem to provide tick value data for any instruments, neither currencies or commodities, it just comes up with 0. :|

But at least Alpari is returning values for MODE_TICKVALUE, e.g. 1.0 for xxx/USD pairs with a USD account.

Will do some more investigating, thanks for the help!

whroeder1
14519
whroeder1 2014.02.19 19:32  
eempc: Think I'll revisit your code at a later date, it's a bit complicated for me to understand at my current level of knowledge.
A one line function is too much for you?
Simon Gniadkowski
Moderator
18001
Simon Gniadkowski 2014.02.19 21:00  
eempc:

Think I'll revisit your code at a later date, it's a bit complicated for me to understand at my current level of knowledge.

As for my silver problem, my broker SVS doesn't seem to provide tick value data for any instruments, neither currencies or commodities, it just comes up with 0. :|

You are either doing it wrong or that Broker should be shot . . . it would be a good idea for you to find out and if it's the Broker ask them why ?
mop0
197
mop0 2014.02.20 17:37  
double tickvalue = MarketInfo(NULL,MODE_TICKVALUE);

Comment("Tick value: ",tickvalue);  

Alpari demo returns a value of 1.0 for EURUSD, ~0.99 for USDJPY, etc, i.e something other than 0.

SVS returns a value of 0 for all instruments... :|

mop0
197
mop0 2014.02.20 17:38  
WHRoeder:
A one line function is too much for you?


I never learned to programme formally. The syntax looks weird to me.
Simon Gniadkowski
Moderator
18001
Simon Gniadkowski 2014.02.20 17:40  
eempc:

Alpari demo returns a value of 1.0 for EURUSD, ~0.99 for USDJPY, etc, i.e something other than 0.

SVS returns a value of 0 for all instruments... :|

And they said what about that when you contacted them ?

The Documentation does not mention that NULL can be used in place of the current chart symbol . . . to be sure use Symbol()
mop0
197
mop0 2014.02.20 17:53  

Didn't get round to contacting them. It seems NULL works on Build 600 but for Build 509 Symbol() has to be used.


Cheers

12
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