Hi, im not sure what 1 pip movement is on ger30, to calculate my position size?
Look at the contract specifications because it varies from broker to broker. Take note of the items boxed in red below…
It also pays to study the price movement. The tick size may be 0.01 but you may find that the price jumps in 10 tick increments so goes from 115160.80 to 115160.70, so even though the value at Tickmill is 0.01, in reality it is 0.1.
The market is changing continuously. So, you have to adjust your trading strategy according to that. Otherwise your profitable strategy will become a dessert.
okay and say 15187.30 is current price, what is one pip movement so I can calculate my stop loss and calculate my position size?
It depends on your broker. I can’t tell you without knowing the contract specifications, which differs from broker to broker. Some brokers have a contract size of 1 and others might have 10.
okay and, How do I calculate the difference pips on Ger30? for example if my entry is 15156.90 and my take profit is 14834.80 how many pips is that and how do I work it out? as I think indices is different compared to than forex.
Assuming your broker has a contract size of 1, then 15156.9 - 14834.8 = 322.1 So your profit in euro would be 322.1…correct that for your account currency. Of course if your broker has a contract size of 10, then multiply all this by 10.
I mean how many pips movement is that and how too work its out?, not how to work out the profit.