Hey traders I have question cause I don’t understand something about to place an order to open position.
For example i click the “new order” then it show their the;
symbol: the currency pairs
volume: 0.01, 0.02, 0.3, 0.4, 0.5, 1.00, 2.00, 3.00, 4.00 and etc
profit loss: take profit:
comment:
type:
sell/buy
whats volume means? from my understanding volume measure per pip movement? like 0.01, 0.02, 0.3 is cents per pip? I’m right.?
Pls help me this is not much clear in my mind…
Yeah I know about this
1.00 is 1 lot (100, 000 units)
0.10 is 10, 000 units
0.01 is 1, 000 units ,
Its not only clear on me about the volume per pip movement.
like volume 0.01 volume its 0.01& cents per pip movement?
like volume 0.02 its 0.02& cents per pip movement?
like volume 0.03 its 0.03& cents per pip movement?
like volume 0.04 its 0.04& cents per pip movement?
like volume 0.05 its 0.05& cents per pip movement?
like volume 0.10 its 0.10$ cents per pip movement?
I know in the standard lot size 1, 10$ per movement
It’s not clear what you mean by “pip per movement”.
“Pip value” is easy to define: it’s the amount of money represented by a 1-pip price-movement of a single lot. For example, for EUR/USD, it’s $10 because if you buy or sell a single lot of EUR/USD, you gain or lose $10 for every pip of price-movement.
Hi lexys,
I mean how much $ cost per pip movement in volume order
For example i click the “new order” then it show their the;
symbol: the currency pairs
volume: 0.01, 0.02, 0.3, 0.4, 0.5, 1.00, 2.00, 3.00, 4.00 and etc
profit loss: take profit:
comment:
type:
sell/buy
Its not clear on me about the volume per pip movement.
like volume 0.01 volume its 0.01& cents per pip movement?
like volume 0.02 its 0.02& cents per pip movement?
like volume 0.03 its 0.03& cents per pip movement?
like volume 0.04 its 0.04& cents per pip movement?
like volume 0.05 its 0.05& cents per pip movement?
like volume 0.10 its 0.10$ cents per pip movement?
I know in the standard lot size 1, 10$ per movement
sorry English is not my language that’s why some words its hard to understand.
You can think of 0.01,0.02 etc. as how many shares you wish to BUY or SELL whereas Pips means distance.
if that helps. 0.01 is for e.g. similar to buying 1000 shares, 0.02=2000 Shares etc. of course in Forex we don’t deal in shares, as shares are used for companies, instead we call them UNITS or LOTS
These units(0.01, 0.02 etc.) is basically how much money you wish to risk and/ or how much money your willing to lose, The more Lots/units(shares) you buy the more money you risk= the more money you can gain or lose.
PIPS= Distance like how you have a car that travels from point A to Point B is measured in Kilometers or if your in the US measured in miles.
A simple Analogy you can use so it makes sense is Pips is like distance for Cars(KM) where 0.01/0.02 (UNITS/LOTS) is for speed. SPEED= LOTS Size,(0.01,0.02) how fast you want to go. Distance is like PIPS how much distance you want to travel from A to B. Hope this makes sense:cool:
In other words in FOREX. PIPS is the distance between one candlestick to the next
No it isn’t, a pip is a fraction of a currency I.e. if Eurusd is shown as 1.10000 a pip is the 2nd last number shown, so a 1 pip increase would take this to 1.10010.
Hi orionanglo,
Thanks for the nice explanation and making example for me to understand it clear.
My whole time (7am-5pm) is studying and mastering forex still now I’m in demo trading its been a months. I want to start in live once its clear on my mind.
From my understanding every volume like 0.01, 0.02, 0.3, 0.4, 0.5, 1.00, 2.00, 3.00, 4.00 and etc are the $ cost speed per pip movement.? I’m right? cause i tried to trade volume 0.01 its low gain/loss per pip movements like cents, i tried volume 0.10 and volume 0.20 a little bit speed cost per pip movement its running cents too and the volume 1 is have a high speed cost to loss/gain per pip movement.
1.00 means one standard lot which equals 100 000 currency units. For example 1 lot of USD - 100 000 USD
Buying 1 lot of EUR/USD means that you buy 100 000 EUR for respective amount of USD (according to exchange rate).
Selling 0.05 lot of EUR/CHF means you exchange 5000 EUR to respective amount of CHF.
Hope its clear.
Cheers.
