I’m quite new ( only a week into it! ) and I’ve been practicing on a demo account with MT4.
I’m mostly trading on the EUR/USD and theres just something I’m not quite getting. I’m sure it’s the stupidest of things…
Ok, so on most sites, you’ll hear about how a “normal” contract is 10$ per pip, minis are 1$ a pip, and micros are .10$ a pip.
Now I’m not too sure how this works on MT4 but it’s not giving me numbers based on a “normal” contract. I thought the volume might be it…it’s set at 1…
Then I just calculated the pip value on this site for the EUR/USD and it gave me a value of .10. Which would explain the low numbers.
So can anybody help clear my head around all this info? Are these 10$ per pip move claims just bogus, or is there some setting I’m missing on my demo account?
And are the numbers for the types of accounts I mentionned above, the standard numbers with “real money” accounts? or do I have to calculate pip value for my currency to give me the true value of each pip movement?