Can someone answer a question for me......its been my understanding that:
The pip value is as follows;
1 lotsize = $100K = $10 per pip
0.1 lotsize = $10K = $1 per pip (lowest on my mini)
0.01 lotsize = $1K = $0.10 per pip (lowest on my micro)
Is it possible for a different broker to have differant values?
I ask because in testing a EA on a micro account, the recommended size is 0.01 which is the lowest on my micro account. There is currently a DD of 11,000 pips or $1100. The creator of the EA claims the DD should be only $110 despite our settings being identical. He uses IBFX and I use FXDD.
I dont get it
Luckily I could bail on this DD and still make $400 because he said its possible to have 250,000 pip DD which would kill my account but only be $2500 on his. It never occured to me that we could have different pip values from different brokers.
Anyone?
The pip value is as follows;
1 lotsize = $100K = $10 per pip
0.1 lotsize = $10K = $1 per pip (lowest on my mini)
0.01 lotsize = $1K = $0.10 per pip (lowest on my micro)
Is it possible for a different broker to have differant values?
I ask because in testing a EA on a micro account, the recommended size is 0.01 which is the lowest on my micro account. There is currently a DD of 11,000 pips or $1100. The creator of the EA claims the DD should be only $110 despite our settings being identical. He uses IBFX and I use FXDD.
I dont get it
Luckily I could bail on this DD and still make $400 because he said its possible to have 250,000 pip DD which would kill my account but only be $2500 on his. It never occured to me that we could have different pip values from different brokers.
Anyone?