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Pip, Point, Tick, Tack, Contact, Put & Call trader lost in transition!
can someone PLEASE direct me to a link that explains all this, I'm going round in circles looking for a provider that handles Index, forex & commodities, and clearly don't know what to ask!!!!!
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This post has been selected as an answer to the original posters question
Tick = smallest movement that price can increment, like on ES SP500 Futures if price goes up 1 tick it might go from 1285.50 to 1285.75 (0.25 tick size). For CL oil futures, 1 tick is 0.01 so price would go from 96.50 to 96.51.
Contract = volume size of your purchase you make into the market for futures, it is like shares in the stock equities world
Lot = volume size of your purchase for forex market
Tack = no such thing
Put/Call = relate to trading options
Mike
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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This post has been selected as an answer to the original posters question
Tick = smallest movement that price can increment, like on ES SP500 Futures if price goes up 1 tick it might go from 1285.50 to 1285.75 (0.25 tick size).
For CL oil futures, 1 tick is 0.01 so price would go from 96.50 to 96.51. Pip = forex equivalent of a tick Contract = volume size of your purchase you make into the market for futures,like shares in the stock equities world
Lot = volume size of your purchase for forex market
Tack = no such thing
Put/Call = relate to trading options
Mike
Big Thanks Mike, clear & concise
as in your ES & CL example above are there any other variations of tick values in the market, place if so where do i get a break down of them,
there are so many instruments available i have yet to find a list of them detailing their incremental values & lot sizing etc or is this a variable thing between brokers & therefore impossible to determine in this way????
if it is possible i will post the definitive guide!
Also your platform probably does it automatically. If using NT, you'll find most tick sizes, point values, etc are pre-programmed. Same with MultiCharts, TradeStation, etc.
Mike
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
feeling less stuck!