I’m confused, i don’t know if i have a standard or mini account for my demo. Heres a screen shot of my terminal. I only trade gbp/jpy, 1 lot at a time. Any help is appreciated. Thanks
On my laptop, it’s tiny, and you pic is tiny.
Easy math though.
1 standard lot trades at $10.00 a pip.
1 mini trades at $1.00 a pip.
Here are the 3 orders that I have in the document. I’m unclear on what 1 pip is. Is it the 3rd decimal place for gbp/jpy?
sell 132.511-131.239=difference of 1272 = $1383.74.
sell 131.178-130.890= difference of 288 = $313.68
buy 131.715 132.190 difference of 475 = $517.93
No, in this case, it’s the 2nd decimal point, the 3rd one is a pipette.
For other pairs, it’s usually the 4th decimal point that is the pip and the 5th is a pipette.
Btw, this is demo right?
OK so this is a standard account right. Yes its a demo, why do you ask?
Just making sure, don’t get offended ^^"
You have no idea how many people out there jump into forex without even knowing how to get their price reading correct.
Thats what demos are for, figuring out how it all works. Thanks for the help I looked everywhere and couldn’t find out which place is the pip for gbp/jpy pair.
I did the math and it comes out to about $10.89 per pip is that normal?
I’ve put decimals into your gains to denote pips from pipette earnings.
The first trade is not 1,272 pips, it’s 127.2 pips.
The second trade was not 288 pips, it was 28.8.
The third trade was not 475 pips, it was 47.5.
Help any?
Yes thanks I understand that a single pip is the 2nd decimal place. Now is this math figuring out how much a single pip is worth correct?
$1383.74/127=$10.89 per pip
$313.68/28.8=$10.89 per pip
$517.93/47.5=$10.90 per pip
Right around $10.90 a pip= a standard account correct?
yeah, that’s one way to figure out the value of a pip.
Well since you’re trading a cross-currency that is the Guppy (GBP/JPY), the calculation is a bit different because it does not involve the USD directly
Any pair with the USD involved will be worth $10 per pip.
Alright, Thanks for the help, cleared a lot of my questions up here