Please explain "Point"

[Forex Trader]

Hi

Here is what the dictionary sais:

double Point

Point value for the current chart.

OrderSend(Symbol(),OP_BUY,Lots,Ask,3,0,Ask+TakeProfit*Point,Red);

Does it means TICK or PIP?

I'll appreciate a comprihansive explanation if possible. 10x.

Ivo

[Forex Trader]

'point' is a value u multiply by to convert pips to a rate. It is .0001 for most currencies but .01 for yen stuff, huf, etc.

so if u want to take profit (long) at 15 pips from your entry point, u take profit at:

entry rate + 15*points.

hope this helps

[Forex Trader]

'point' is a value u multiply by to convert pips to a rate. It is .0001 for most currencies but .01 for yen stuff, huf, etc.

so if u want to take profit (long) at 15 pips from your entry point, u take profit at:

entry rate + 15*points.

hope this helps

Yes very helpful. Thank you hdb