Pip Size

[damianoakley]

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]

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]

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]

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]

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

 

[damianoakley]

no worries mate - thanks for the help


Damian