Oanda units and pip value

[fnewbiex]

There is something that i cant seem to understand. So lets say that the value of a pip is 1$ and this corresponds to 10000 units but why when i make an order with 10000 units the value of each pip is not 1$ but 0.1$. For example i calculate the pip value i want to risk and its about 0.6 then i make an order of 6000 units and on a 50 pip movement i earn or lose 50x0.06$ and not 50x0.6$
What am i missing?

 

[Maria LMFX]

Hey fnewbiex,

Here is how I see the situation:
So
1 lot = 100 000 units (standard lot)
0.1 lot = 10 000 units (mini lot)
0.01 lot = 1000 units (micro lot)

For example EURUSD pip value is 10$ per pip when 1 standard lot is executed, then the pip value is 1$ if 0.1 lot is executed, etc.
In your case, you execute 6000 units which is 0.6 lots (mini lot) so in this case the pip value should be 0.6$
If you are 100% sure that you see 0.06$ as P/L, then you should probably check the lot size on your platform and make sure it is 0.6 and not 0.06 (there is an additional zero) which makes it a micro lot and therefore makes your earnings 0.06.
Also note that these calculations are not for every currency pair and they may fluctuate a bit.
Wish you profitable trading!

 

[fnewbiex]

Thank you for answering
I think i found what im missing

if you see at the chart in mt4 it shows a movement of 808 while the lots are 0.1 and the profit is 65. So i suppose this 808 is not pips and the actual pips are 80?

 

[Maria LMFX]

Hey fnewbiex,

I'm glad that you found what you needed.
Yes, most probably what you see is points (pipettes), not pips.
Most currency pairs in MT4 have 5 digits after the decimal and the 5th number is the pipette.
In your case you have CADJPY where the 2nd number after the decimal is the pip and the 3rd number is the pipette.
Good luck!