HELP! Pip Counts on MT4

Beginner Questions
1

Hi Folks,
I need some more help:) You guys have been awesome with your assistance. I use MT4 with Alpari UK and with the 5 decimal places and 3 decimal places on the price feeds, I have a problem with calculating my pips.

On the charts, I usually ignore the final decimal place because I’m told it’s a fractional pip but when I set my terminal to show profit/loss as points/pips, I get + or - 3 digits. I was counting those digits as is, but just checking on my charts today, it didn’t make sense…for instance on my USD/JPY chart, I reckoned 98.608 to 98.367 was -24 pips/points. However on my terminal I saw -240…That scared the … out of me. I then asked and was told to disregard the last digit on the pip/point counter as well. Is that correct, because if it is, then I’ve been making a mess of my trading…

2

I am in alpari too, and seems the last firgue did not make a sense for me :smiley:

3

Hi, Hypechic

Here are two simple rules to help you keep things straight:

(1) For all currency pairs, except JPY pairs, the fourth digit after the decimal point represents 1 pip. If there is a fifth digit after the decimal point, that digit represents one-tenth of a pip.

(2) For all JPY pairs, the second digit after the decimal point represents 1 pip. If there is a third digit after the decimal point, that digit represents one-tenth of a pip.

So, for the USD/JPY price move you asked about, a price decline from 98.608 to 98.367 is a decline of 24.1 pips.

Hope that helps.

Clint