Quote from: slaman29 on August 01, 2020, 07:07:52 AM

Quote from: Lordhermes on July 31, 2020, 09:31:18 PM

Seeing people replied about setting pips, ratio of stop loss to trading, and considering trading pair, I have a question to ask, isn't it forex market that has pips study, ratio settings strategy. I have only come across market makers and market takers in crypto trading, how does pips, ratios concise with crypto, which crypto exchange supports pips and ratio setting. Never see me as fool for asking this.

I think you can talk about ratio in crypto trading too, why not? And yes, pips came from forex, but so did all the other terms I believe, and they actually could have come from stock markets in the first place.

Pips just stands for PRICE INTEREST POINTs:) So OP is telling people not to just rely on this (it's also harder to count I guess as pips moves are crazy in BTC!).

The pip value of BTC/USD is $0.01 USD per lot. Nobody really trades BTC against EUR in crypto markets so there isn't a pip value for it that I know of. Almost all crypto trading is done against the US dollar.

Also I don't agree that it's better to compare risk:reward ratios, it will lead to traders setting unrealistically high price targets that never get realized and just hit the stop loss. 1:1 and 1:2 risk-reward ratios are safe, it should not be too high. On the contrary it is safe, and clearly desirable, to express your profits in terms of pips.

Quote from: Lordhermes on July 31, 2020, 09:31:18 PM

Never see me as fool for asking this.

Don't worry there are no foolish questions when discussing trading, we all (and myself admittingly) are learning from each other's experiences to be honest.