I've got something to say and I hope I don't get bashed for it, I really do appreciate this forum and all of the hard work that has been done here. So I'll post it here on the noob forum, I don't want to contaminate other threads.
It's about the pips/points used as measurement for profit, and with that, the use of it in some code (and a lot of EA's, not just from this forum). Correct me if i'm wrong, but aren't pips a bad way to measure profit? The value of a pip depends on the exchange rate, so a pip from the GBP/NZD (1.93 at the moment) is worth about half of a pip from EUR/GBP (0.86 atm).
So a better way to measure would be the price of a pip. Following the example of investopedia (https://www.investopedia.com/ask/answer ... cypair.asp) the EUR/USD would be 1pip * exchange rate ( *100000)= 8.84.
A small table to demonstrate the differences:
Code: Select all
pair pip multiplier rate value
EUR/USD 0.0001 1.13 8.85
GBP/NZD 0.0001 1.93 5.18
EUR/GBP 0.0001 0.86 11.63
USD/JPY 0.01 111.73 8.95
NZD/JPY 0.01 76.24 13.12
We want to risk/add with a percentage of our buying power or equity, not with pips.
This does not matter much with something like the 100k pips challenge, with fixed position size, as long as your account is big enough, but it does matter when trading with a real equity. When you have 10k equity, you could trade twice as big on GBP/NZD compared to NZD/JPY.
Any thoughts? Am i wrong?