Lets say your up 10 pips on a .2 lot position. Would you measure that as being up "10 pips" or "20 pips"? This is assuming you opened the .2 during the same transaction.
When you use "pips" as a measure of strategy's effectiveness, you do not need to adjust it to the lot size used. "Pips" are good to measure how your entry/exit signals perform disregarding the money management part.
If you want to take position sizing into account, use % as a measure of success.
Lets say your up 10 pips on a .2 lot position. Would you measure that as being up "10 pips" or "20 pips"? This is assuming you opened the .2 during the same transaction.
Ignored
Profit in Pips = 10
Profit in $ = $2 x10 = $ 20.00
