say USDJPY goes from 118.10 to 118.70. Thats a gain of 60 pips. Now say that EURNOK goes from 8.11810 to 8.11870. Is that still a gain of 60 pips? Would you make the same amount of money with the EURNOK trade as with the USDJPY trade? If so, why dont more poeple trade EURNOK. It seems to have greater profit potential if the above statement is true.
For instance, today USDJPY has gone up .72, or 72 pips so far. However, EURNOK has gone up .01120, or 1,120 pips. At 10 dollars a pip, the profit is $720 compared to $11,200. Why dont people trade more lucrative currencies more such as EURNOK?