This seems to be happening on all currency pairs, but I will just use USDCAD as an example.
When I place a live (non-backtest) order for USDCAD for 25000 units, I calculate the pip value to be right about ~$1.95. I just checked another trading platform to make sure, and it also gives the pip value for 25000 units USDCAD to be $1.95.
However, when running a backtest, an order quantity of 25000 USDCAD gives a value of $2.50/pip. Similarly, an order quantity of 30000 becomes $3.00/pip.
Now, one of these is not right. I am inclined to believe the backtest is giving the incorrect values.
Surely I am misinterpreting the order quantities or something along the way. Regardless of what is going wrong, I am very very confused! Could someone please explain why there is this discrepancy in profit?
I've only just noticed this as well, meaning all of the backtests I have run so far have been giving me wrong profit values??
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