Pip Size

damianoakley · Aug 11, 2004

Hello all, please could someone help me with a query.

I trade Forex using my own Intraday trading system and have so far used FXCM as my trading platform.

In FXCM, every currency has a Pip Size column, eg - EUR/USD has a pip size of 0.56 (when trading on a GBP Account). The figure changes as the value of the relevant Currency Pair changes.

Please could someone explain the formula that is used to reach this Pip Size figure for each currency pair.

My reason for asking is because I use this figure to determine my position size. I am moving to a different trading platform that doesn't list the Pip Size figure, so I will have to work it out manually, but don't know the formula.

I would be grateful of any help.

Many Thanks

Damian

zonda86 · Aug 14, 2004

newbie

Don't even try to ask somebody else, ask yourself first. The pip size is difference between two prices of buy and sell in particular currency.
Then think by yourself.

RMSwindler · Aug 14, 2004

damianoakley said:
Hello all, please could someone help me with a query.

I trade Forex using my own Intraday trading system and have so far used FXCM as my trading platform.

In FXCM, every currency has a Pip Size column, eg - EUR/USD has a pip size of 0.56 (when trading on a GBP Account). The figure changes as the value of the relevant Currency Pair changes.

Please could someone explain the formula that is used to reach this Pip Size figure for each currency pair.

My reason for asking is because I use this figure to determine my position size. I am moving to a different trading platform that doesn't list the Pip Size figure, so I will have to work it out manually, but don't know the formula.

I would be grateful of any help.

Many Thanks

Damian

Go to http://www.xe.com/ucc/ and I think this will help you.

damianoakley · Aug 16, 2004

cheers for the replies - but I've sorted it. By the way zonda86 - if you don't mind me saying, yours was a strange reply. I'm not entirely sure if you've understood my post correctly, because I certainly don't understand your answer (!).

Thanks anyway.

zonda86 · Aug 16, 2004

What I said was formular of counting pips in words
Sorry for misundesrtanding.

damianoakley · Aug 16, 2004

no worries mate - thanks for the help

Damian

Pip Size

damianoakley

Established member

zonda86

Newbie

RMSwindler

Newbie

damianoakley

Established member

zonda86

Newbie

damianoakley

Established member

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