Disliked{quote} Confused? Basically, you are saying that one mini-lot ( $1.00/pip) is the minimum 1 unit for your account platform, and that you traded two units (now you are at $2.00/pip), and that your trade went 25 pips. Hence you made $50. Am I correctly understanding this? Just trying to keep things simple. Please trash the "pipettes" talk and simply refer to unit sizes as either micro-lots ($0.10/pip), mini-lots ($1.00/pip) or full lots ($10.00/pip). A pip is a pip is a pip. It is the value of the pip (a measure of the size of the units traded)...Ignored
Mmmmm - as a trader who has been around Forex since it went retail 5 / 6 years ago, I am accustomed to the standard definition of a pip - the 4th decimal in say EurUsd , GbpUsd etc and the 2nd decimal in UsdJpy etc and I maintain this notation - as do several MT4 brokers - this link explains the notations and definitions of a Pip and a Pipette......http://www.babypips.com/school/pips-and-pipettes.html
Thus when posting trades I am showing both notations AND also the fact that for trading my methodology the minimum size - after gaining experience via micro lots - IMO should be 10 micros = 1 mini as I am looking to bank frequently intra day.
My objective is to present the trades in the same common format to allow easy comparison with those expressed by the majority in this thread - including yourself.
Perhaps I am not succeeding .....and thank you for your kind comments.....
PS - yes, your $50 calculation is correct
PSS - so removing the word "pipettes" would make that post clear and acceptable?
Trading Levels with WRBs