i just changed to 50 points trail stop and my metatrader journal says:
2014.10.20 0850.214 '1721345': trailing stop on #706218869 modified to 50 pip(s)
Yet other users are saying pips should be 500 points.
Anyone has a clue what is going on?
It depends on which broker: 4 digit (price) ir 5 digit.
1.27631 - 1.27471 = 160 points or 16 pips
1.2763 - 1.2747 = 16 points or 16 pips|
Just open the chart (EURUSD for example) to see: you have 4 digit price on the chart or 5 digit
Using Alpari UK
But if what you say is true , alpari is 5 digit price. yet when i set 50 point i get this message in meta-trader journal:
2014.10.20 10:18:49.817 '1721345': trailing stop on #706229489 modified to 50 pip(s)
points are probably the same value as pips in your case
pips are expressed as 1% of the invest value
it is that simple
Points are probably not the same value as pips, this is why the OP is puzzled.
When Metatrader first started, most if not all retail brokers used 4 decimal points for Forex (except Japanese pairs which used 2). So back then point and pips were the same value.
Now nearly all brokers offer the additional digit, but metatrader still use the term Pip where they should really use Point (or Pipette).
"pips are expressed as 1% of the invest value"
What does that mean? A pip is normally .01 percent of the price.
obviously the answer is too simplefor you to understand
points are before the comma, pips behind
basically 1 point should be dependant on the case 100 pips, or 1000 etc
representing 1 % of the value