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different digits broker
there are different brokers by digits 4,5 and even 6 ,why cant be there on standard for it?
for new trader it is bit complicated
most of the brokers give 5 digits , for me 5 digits is considered as standardized.. just make yourself clear will do.. normal pair like 1.23456 and jpy pairs like 123.456...
the fifth digit behind decimal is 0.1 pip, the forth digit behind decimal is 1 pip for normal pairs..
while third digit behind decimal is 0.1 pip and second digit behind decimal is 1 pip for JPY pairs
there are different brokers by digits 4,5 and even 6 ,why cant be there on standard for it?
for new trader it is bit complicated
More digits mean prices are more exact. Like, 4 digits get you 1.2345, but 5 digits add more precision, like 1.23456. That's good for tight strategies, like scalping or high-frequency trading.
6 digits? Even more exact. Not too common, but it's around. Not all strategies need that detail though, so it's about what fits your trade style. No standard in forex, brokers set their own scene. Hope that clears it up. Keep at it!
Hola! I'm also into forex and totally see your point about the digits. Personally, I've settled on a 5-digit broker because it strikes the right balance between getting that precision and not overcomplicating things. I've been in the forex about 8 years now, trying different strategies. The ones that really stick for me are price action and swing trading. They goes well with me because they are simple enough they don't glue me to the computer screen all day. What's your go-to strategy in forex?
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