Do I have to close trades manually in this scenario?

hi guys,is anybody using Fxpro for this method? Fxpro has a 50pip value for stoploss and take profit.Does that mean i must close the trade manually if i want a fix tp of 15 pips only? Or should i use a 30pip stoploss and tp of 20pip? Need your guys help on this.

Thank You

FxPro uses an extra decimal point (pipette), thus "50 pips" is in fact only 5 pips. Add a zero to whatever amount you need to fix.

Hi there,thank you for replying.I am afraid i don't quite understand what you mean.Can you show me an example?

Thank You

Kai

4 decimal broker =1.4350
5 decimal broker = 1.43500

thus 50 pips would look like:

4 decimal broker = 1.4400
5 decimal broker = 1.43550

In 5 decimal brokers, when the say 50 pips it is really 5 pips to the 4 decimal kind. Not sure where you live but it is sort of like the old gas prices. In the US the gas stations alway would say 1.49 9/10 so in actuality it would cost you 1.50 for a gallon.

The "pipette" that doblece refers too is similar to that. it is more like a fraction of the whole pip to the left. Im still not quite sure why they are going to this new system as it adds a whole new level of confusion.

Hope that helps and doesnt add to your confusion.

Here's a discussion on another forum that could shed more lights on this subject.

Basically, tighter and more flexible spreads.