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five digit price quotes

  • #21
  • Jan 8, 2009 3:54am Jan 8, 2009 3:54am
Quoting PipAdder
Personally, I'd find it a lot easier if the last decimal digit (the new one) was expressed as a fraction of a pip in MT4 (with a decimal point) instead of as an integer. If you trade manually, the order window does something like that, shows the "new" decimal digit in a smaller size so that it is easier to ignore it. The problem is with the terminal window, when looking at profits, setting trailing stops... It is almost like a redefinition of the pip. It'd help a lot if MetaQuotes introduced a decimal point here, so that where before we had 10...
Yep, "redefinition of the pip", best way to explain that. As more and more brokers are going for that "redefinition", there is no need complaining about that.
I mean, we are traders or would-be traders, we are here to find investment opportunities. Something changes ? The disturbance it's creating means some will benefit and some won't, we just have to find a way to join the first team.
This is about creativity. Does someone has a clue about how we will really benefit from this 5th decimal, a trading scenario on how using half-pips can be helpful ?
  • #22
  • Jan 8, 2009 7:12am Jan 8, 2009 7:12am
Quoting ghous
So is rounding off a valid solution? I mean if i see 1.45671 as the price can i read it as 1.4567??
Roughly, yes, and I make sure to round up to be on the safe side when placing pending orders.

Quoting gbart
Does someone has a clue about how we will really benefit from this 5th decimal, a trading scenario on how using half-pips can be helpful ?
Hmmm... Good question. Most of us trade noise anyway (day traders, me included). I can't see how is it humanly possible to benefit on noise of the noise, which is what the 5th decimal is. But, who knows, maybe there is a way...
sans peur et sans reproche
  • #23
  • Jan 8, 2009 8:19am Jan 8, 2009 8:19am
Quoting ilanr
Roughly, yes, and I make sure to round up to be on the safe side when placing pending orders.



Hmmm... Good question. Most of us trade noise anyway (day traders, me included). I can't see how is it humanly possible to benefit on noise of the noise, which is what the 5th decimal is. But, who knows, maybe there is a way...
K. Thanx!
I believe . . .
  • #24
  • Jan 8, 2009 8:47am Jan 8, 2009 8:47am
I totally ignore the last digit.

One difficulty is using the crosshair. If you're not alert, you may think 103 is 103 pips, whereas it is 10.3 pips. It would have been better if everything had remained the way they were.

We'll get used to it, with time.
  • #25
  • Jan 8, 2009 9:01am Jan 8, 2009 9:01am
Quoting semar
wonder how come brokers don't read these threads...
Some do
  • #26
  • Jan 9, 2009 3:50am Jan 9, 2009 3:50am
Quoting timex83
I totally ignore the last digit.

One difficulty is using the crosshair. If you're not alert, you may think 103 is 103 pips, whereas it is 10.3 pips. It would have been better if everything had remained the way they were.

We'll get used to it, with time.
Maybe we should set up somekind of security EA popping up alerts like "this order means xxx and yyy pips, was it what you were intending to do ?"
Just for a few months, this burden could help not make mistakes and after a while we'll get so much used to the 5th digit that we won't need help anymore.
  • #27
  • Last Post: Apr 3, 2009 9:09am Apr 3, 2009 9:09am
Interbank has also announced this - I received an email today extolling the benefit this will be to the trader. Call me cynical but I think this will be of much more benefit to IBFX...

Won't make much difference to my EA/indicators - they are already replete with "NormalizeDouble" and "CompareDouble" due to Metatrader's inability to do accurate floating-point math (and their stubborn refusal to fix it). This problem was solved long ago in Python (my programming language of choice) with the addition of the Decimal class and library.
Old Benjamin was right
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