5 decimal places - Show Correct Pip Value

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Paul12
Posts: 8
Joined: Wed Mar 28, 2012 5:35 am

5 decimal places - Show Correct Pip Value

#1 Postby Paul12 » Thu Apr 12, 2012 5:26 pm

This is just a handy little update I would like to see in the future and I hope you guys take a look at.

A lot of brokers now use 5 digit decimal places as standard on most pairs. Forex tester allows us to change the decimal value to 5 but by doing so it also dynamically fills the field beside to show '0.00001'.

If you save these settings and generate ticks you will soon notice that your margin settings have all been affected too and divided by 10 because of the extra decimal place in the '0.00001' box.

The small workaround (sort of) for this is to enter 5 in the digit box but leave the decimal box beside it to '0.0001'.

This means your margin/lot settings will work properly and 5 decimal places are shown on your charts. The catch? Well this now means there is an extra 0 added to your points/pips column when you trade.

So you complete a trade and it shows you profited by 600 pips when in fact it was really just 60 pips.

That leaves just 2 scenarios to choose from,

A: You leave it as 4 digits, leave '0.0001' and your pips show properly

B: You change it to 5 digit places and leave '0.0001' so your lot size still work properly but your pip values will always show a figure 10 times larger than the actual amount.

In a future update it would be great if FT just recognized when you use the B setting and displays the pips correctly so all your reports display the correct values too.

If there is in fact a way to make 5 digit charts work perfectly with lot sizes etc that I have overlooked please do let me know. I would appreciate it.

Thanks,
Paul

feck
Posts: 8
Joined: Sat Nov 14, 2020 9:09 am

Re: 5 decimal places - Show Correct Pip Value

#2 Postby feck » Sat Dec 12, 2020 2:16 am

Hi i know its 8 years later, but this is the problem i'm coming up again now. I'm still demo trading so have no experience on the live trading. Why has this problem not been fixed yet

FX Helper
Posts: 1311
Joined: Mon Apr 01, 2013 3:55 am

Re: 5 decimal places - Show Correct Pip Value

#3 Postby FX Helper » Mon Dec 14, 2020 9:03 am

Hello

Forex Tester 4 version shows profit/loss of the order in points, not in pips.
For 4-digit historical data (1.2500) 1 pip is equal to 1 point.
For 5-digit historical data (1.25000) 1 pip is equal to 10 points.

Which means that when testing VIP data, the profit in pips will be 10 times lesser than profit in points.

feck
Posts: 8
Joined: Sat Nov 14, 2020 9:09 am

Re: 5 decimal places - Show Correct Pip Value

#4 Postby feck » Tue Dec 29, 2020 1:28 pm

Is that what its like when live trading, you have to search out which traders use this type of system. I always thought a pip was the 5 digit not the 6 digit. I was always under the impression that anything on the 6th digit was point or pippete so 10ths of a pip.

FX Helper
Posts: 1311
Joined: Mon Apr 01, 2013 3:55 am

Re: 5 decimal places - Show Correct Pip Value

#5 Postby FX Helper » Wed Dec 30, 2020 6:03 am

Hello

1 pip is always equal to 0.0001 for forex non-JPY pairs (0.01 for JPY pairs).

1 point is equal to 0.00001 if you use 5-digit data.


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