Correct ATM pip settings with IB

[jtrade]

May I please check that the correct numerical setting for 1 forex pip is indeed 1 and not 10 (or anything else) ?

I'm asking because of course with IB I have Ninja enabled to quote currencies in HalfPips.

Tks, J.

PS. I'm very impressed by the improvements made to Ninja in the years since I last subscribed !

[NinjaTrader_Jason]

Hello jtrade,

Upon connected to IB 1 pip/tick represents 0.00005, since you need to set it to HalfPip.

[jtrade]

Thanks, Jason.

So to be absolutely clear, if I want a 20 pip stop in EURUSD, I enter the numeric 40 (because 40 x 0.0005 = 0.002, which is 20 pips) ?

J.

PS. When you confirm the above, would you please also confirm that after the TWS shuts down for its daily reset, do I have to shut down NT before I restart TWS, or can I simply restart TWS, then reconnect NT ?

[NinjaTrader_Jason]

Hello jtrade,

Yes, you are correct in your understanding.

As per the TWS reset, I am not sure if you need to restart NinjaTrader, but I believe this is not necessary.