If you happen to follow my FX trades it's important that you understand how I count pips. Especially if you follow my trades blindly.. lol
I count leverage where long pair A 3 lots +10 pips = 30 pips gain +10 x 3 lots, which of course could also be something like 1 lot +10, 1 lot +12 & 1 lot +20 would = +42 pips on total PA movement of 20 pips.
I'll use Friday's $USDCAD $GBPAUD longs as an example here..
From 2:00 to 4:00 EST on Friday my entries, by time, were..
GBPAUD buy 1 lot 1.68868
GBPAUD buy 1 lot 1.6883
GBPAUD buy 2 lots 1.68744
GBPAUD buy 2 lots 1.68709
USDCAD buy 2 lots 1.02929
USDCAD buy 2 lots 1.0291
USDCAD buy 2 lots 1.02847
USDCAD buy 2 lots 1.02808
GBPAUD buy 2 lots 1.68513
Sunday close by time, FIFO applies
USDCAD out 6 of 8 +9.8x2 +3.5x2 +1.6x2
GBPAUD out 2 of 8 -10 -6.2
GBPAUD out 2 +6.6x2
GBPAUD out 2 +12.2x2
GBPAUD out last 2 on adjusted stop +19.6x2
USDCAD out last 2 on adjusted stop +1.9x2
Totals actual P/L +39 pips, leverage / lots applied +88.2 pips - roll fees incurred -11.5 pips = net +76.7 pips, (pip total as defined by monetary value (monetary value / unit size))
And / or +76.7 pips / 16 lots total "investment lol" = +4.79 pips p/lot
My goal in FX is to use very small size to accumulate very large numbers of pips (hundreds & / or thousands) as this puts the emphasis on quality trades over the rapid accumulation of fiat.
Where a 1% gain / loss (currently) = 550 pips
Stay small & stay safe.. I want you to stick around for awhile ;)
Hope this helps
Questions? Ask me on twitter @Ancient_Warrior