As above, most of the examples I’ve read have been to 4 decimal places. I’m trading using FXCM which gives prices to three decimal places. I bought at 144.674 and sold at 144.768 - did I make 94 pips?
Yes it’s a very noobish question but we all start somewhere…
You trading GBP/JPY?
No, you didn’t make 94 pips. You made 9 pips. Generally GPBJPY is quoted with two decimal points. However, if you’re with a broker that quotes an additional decimal spot, then two turns to three.
I trade with Oanda which quotes the same as FXCM.