New and old items in quotes on the market
In various forums on trading on the a lot of specific jargon, not always understandable to a beginner. Often old and new items are mentioned. So what are we talking about?
The old points indicate the minimum price change in the brokerage company with quotes of 4 decimal places, the new - the minimum value of price change in the brokerage company with quotes of 5 decimal places.
Отсюда возникает вопрос: “А что за четырех- и пятизначные ДЦ? Все очень просто. У разных брокеров используются разные системы котирования. У четырехзначного брокера котировки для EURUSD отображаются как 1.3367. А у пятизначного ДЦ эта же котировка будет выглядеть как 1.33670. Из школьного курса математики мы знаем, что 0.01 = 0.010 = 0.0100 = 0.01000. Поэтому значения обоих котировок одинаковы: 1.3367 = 1.33670.
Thus:
1 old item (4 digits) = 0.0001
1 new item (5 digits) = 0.00001
On forums, in various courses, books, monitors, etc., it is common practice to indicate everything in the old paragraphs (4 characters) to avoid confusion and misunderstanding.
In all more or less new Expert Advisors the settings do not require any change for working with five-digit DTs, you specify in the settings the values (related to pips, such as stop loss and take profit) in the old pips and the Expert Advisor automatically recognizes what type your DT is quoting and adjusts its work. In some old EAs, to work on DTs with five-digit quotation system, you need to add 0 to all parameters specified in points. But again, in all new Expert Advisors you do not need to add any zeros, the automation will do everything for you.