Sometimes it is unclear whether one’s ignorance is greater than one’s arrogance.
2 Likes
That extra digit is referred to as a point. Which is one tenth of a pip.
Where you think you are making 100 pips, you are actually only making 10 pips. 10 pips is 100 points.
Your broker is also way behind other brokers in adding the 5th decimal place to their quotes. This is a years old improvement to retail forex trading platforms
The purpose of the 5th decimal place is to provide a more precise rate of exchange. It is not to make it easier or have traders believe they are making 10x more money from small price movements.
2 Likes
I am very sorry that my “long” post was so offensive for you. I have deleted it and i hope you can rest in peace now.
That is just stupid…You left the post calling me ignorant and arrogant. Not fair.
You didnt have to react just because someone made a long post.
Your response was actually incorrect and that is why you got the reply that you did.
True, my apologies.
1 Like
This is so true.
Edit… As an observation in general.
Each decade has its own challenges. If you follow your rules, be patient, be disciplined, and not sabotage your trades, you will eventually succeed. You wont even count how much pips you made or lost if you have the right mindset. And i will just leave it at that.
you have it the wrong way round. anyone who talks about achieving so many pips per day, has no clue about how trading works. It is about risk management. Keep thinking in terms of pips and you will end up in the poor house - guaranteed. Think in terms of risk and you have a good chance in this business.
Charting packages get better and better, but the rules are still the same as they were 50 years ago. ive been at this 30 years now and can confirm its same old. business as usual. nothing changes in price action and human behaviour.
I was asking my question out of curiosity but did not expect such a sarcastically written answer.
Thank you to everyone else though who took the time responding to my question @ProfitPotential @taraksias @johnftseman
I’m also a bit lost because I don’t see the “long post” referenced here.
This is interesting. For some reason I thought the markets are less volatile (maybe even harder to manage with algo trading also present?) nowadays.
Ah yes this was it. But good to know this is still a growing industry.
Thanks for your kind responses!
Don’t be in a rush…to make high pips thus high money…Enjoy the ride…
Join Etoro it has a forum with many seasons traders…Hope this helped
Would I be wrong if I call that point a pipette instead?
No, you wouldn’t be wrong but it is most commonly referred to as a point.
1 Like
Etoro is stupid. Speculation driven.
I don’t mean any disrespect, since I am an Etoro member. You only use Etoro as a guideline when nothing makes sense. Gauge the market when technical analysis is not lining up with market movement.
I responded to your message saying that it was sarcastically-written and you respond back to me with such phrases. Tell me I’m wrong that you’re being very mean-spirited?
Since you politely ask me to tell you that you are wrong, I have no choice but to comply…You are wrong!
As for the content of your conversation…Please let me know where I was wrong.
Thanking you in advance, in kindness
Ignis Draco
I love reply of Ignis_Draco, really there are overwhelming waves of people who are looking to make quick bucks. But no matter what people reply here, I think it was way too easier to make money for sure just cause of previous fact. Maybe not much, but easier for sure.
I don’t know what I will answer. because I’m a beginner.