For you, a Forex Pip is?

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  • 42% (42)
  • 24% (24)
  • 17% (17)
  • 18% (18)
Total voters: 87
 
For me 1 pip is the rightmost even digit.
 

Standered pip is 0.0001 for 4digit brokers

mini pip is 0.00001 for 5digit brokers

 
gbemitte:

Standered pip is 0.0001 for 4digit brokers

mini pip is 0.00001 for 5digit brokers

No,  it isn't . . .  or are you really trying to say 1 pip on UDSJPY is 0.0001 ?
 

Thanks for you all for comments, this poll was created after this post below (Trading Systems topic from doshur), that may help you in this debate.

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points == pips?

figurelli, 2014.02.15 05:42

I totally agree that pip is today an imprecise unit that definition varies from person to person.

I mean today because one day in the past, when 1 pip was 1 point for Forex, it was precise.

However, now we have more digits and platforms, like MT5, trading Forex and Stocks, where pips have no precise meaning as points do. So now we don't have anymore a standard pips definition, because points value is not static.

So, with this change, we don't have more a precise pip definition, since someone can use old reference (pip==0.0001 for EUR/USD) and other can use pips as the same as points (pip==point). To be honest, I prefer the old one, since I was used to, but you can use your reference for pip and you are right to, since original definition of pip was really one point in Forex.

Anyway, I just see two possibilities for pip definition. The old one (pip==0.0001 for EUR/USD forever) or the new one (pip==point whatever value point is now or will be in the future). What do you guys prefer?


 
figurelli:

Thanks for you all for comments, this poll was created after this post below (Trading Systems topic from doshur), that may help you in this debate.


I have subsidiary question : what is a pip for XAUUSD (GOLD) ?
 
A pip is 1 and this pip is equal to(in the case of EURUSD) a change of the value of the currency pair by 0.0001 in the case of EURUSD. The same way you can say 1 ton is equal to 1000kg. You cant however term 0.0001 as 0.0001 pips as this represents 1 pip and if pip is to be added after it the value should be 1 not 0.0001.
 

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Press review

newdigital, 2014.01.06 18:38

What is the Pip Cost for Gold and Silver?


  1. Gold: Symbol XAU/USD
    The pip cost for 1 ounce of Gold (minimum trade size) is $0.01 per pip.
  2. Silver: Symbol XAG/USD
    The pip cost for 50 ounces of Silver (minimum trade size) is $0.50 per pip

example :

MetaTrader Trading Platform Screenshots

XAUUSD, M5, 2014.01.10

MetaQuotes Software Corp., MetaTrader 5, Demo

XAUUSD M5 : 539 pips price movement by CNY - Trade Balance news event

XAUUSD, M5, 2014.01.10, MetaQuotes Software Corp., MetaTrader 5, Demo


 
tonny:
A pip is 1 and this pip is equal to(in the case of EURUSD) a change of the value of the currency pair by 0.0001 in the case of EURUSD. The same way you can say 1 ton is equal to 1000kg. You cant however term 0.0001 as 0.0001 pips as this represents 1 pip and if pip is to be added after it the value should be 1 not 0.0001.
The difference is that 1kg (or 1ton) is something well defined, scientifically. While a pip is not.
 
newdigital:

example :


I have a customer for who, on gold, a pip is 0.1 and not 0.01. That leads to some issues when I programmed for him without asking what is a pip for him :-D
 
angevoyageur:
I have subsidiary question : what is a pip for XAUUSD (GOLD) ?
That is off topic 
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