How do you convert Points into Pips? I want to do a trail and stop on my MT4, but it is in points.
1 pip = 10 points (points are sometimes referred to as pipettes)
1 point = 1/10 of a pip
Prices in 5 digits
Example: 1.5432 (you could think of this price as 15,432 pips)
The last digit (2 in this example) represents 2 pips.
Points are not stated in 5-digit pricing.
Prices in 6 digits
Example: 1.54321 (you could think of this price as 15,432.1 pips)
The last digit (1 in this example) represents 1 point (that is, 1/10 of a pip)
The next-to-last digit (2 in this example) represents 2 pips.
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Thank you!!!
A pip is the equivalent of 1/100 of 1 percent or one basis point.
Thank you very much