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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!!!!!
Can you help answer these questions from other members on NexusFi?
Site Administrator Developer Swing Trader R.I.P. 1977-2026
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Broker: IBKR
Trading: Stocks & Futures
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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.
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.
feeling less stuck!