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PiP Point Tick Tack
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PiP Point Tick Tack

  #1 (permalink)
Trading's simple not easy
Adelaide Australia
 
Futures Experience: Intermediate
Platform: Ninja > MC
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Favorite Futures: ES
 
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Posts: 99 since May 2011
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PiP Point Tick Tack

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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  #3 (permalink)
Site Administrator
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Answer
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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, 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

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  #4 (permalink)
Trading's simple not easy
Adelaide Australia
 
Futures Experience: Intermediate
Platform: Ninja > MC
Broker/Data: AMPs
Favorite Futures: ES
 
Angelo1's Avatar
 
Posts: 99 since May 2011
Thanks: 1,425 given, 53 received

not sure what to add

Answer
This post has been selected as an answer to the original posters question Answer

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!

Much appreciated BM feeling less stuck!

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  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

Use CME's website CME Group - Futures & Options Trading for Risk Management, they have a contract specification page for each instrument that will list most of it.

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.

Reply With Quote

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