Setting Up Forex

[dctommy]

Question:

When you set up MTP for forex tick $ values, how does it know
that a setting of 1 equals the proper amount of pips for the forex
pair you are trading? Example:

EURUSD: .0001 ticks = 1 pip
USDJPY: .01 ticks = 1 pip

When you are setting up MTP for risk management, how does it know this
to properly calculate the $ R/R?


Thanks,

Tom Powell

newbie