Entry Orders on 5 digit Brokers

[pall]

Dear Immy,

For 4 digit brokers, the pending order is set at 1 pip on the break of the Aims box.

However for 5 digit brokers, do we still place pending order at 1 pip or can we now use 0.1 pips instead?

For Eg, for 4 digit broker if the low of the AIMS box for EUR/USD is lets say 1.1892 and we wish to sell the pending order would be 1.1891

However for 5 digit broker if the low of AIMS box is 1.18916, do we set our pending order for sell at 1.18906 or 1.18915?

[immy]

Hi

I don't know if there are any brokers left who offer those 4 digit prices any more.

Anyway, it all depends on how your broker quotes the price. In most cases 1.12345 means that the firth digit is a fraction of a pip. So it depends on your brokers quote TICK VALUE.

for yen pairs with 3 digitos past the decimal and others with 5 digits 10 = 1 pip.


hope it makes sense. Best to check with your broker.