I’m trying to understand how to calculate a pip and find the pip value. Can someone show a detailed example on how to find the value of a pips also how to calculate pips?
Thank you
THIS POST, from a few months ago, might answer your questions.
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It is used to measure the change in value between two currencies. It’s the last decimal price of a quote.
Take up the pipsology course, it’s extensive.
A pip is the smallest price move that an exchange rate can make based on forex market convention. Most currency pairs are priced out to four decimal places and the pip change is the last (fourth) decimal point.
A pip, short for “percentage in point” or “price interest point,” represents a tiny measure of the change in a currency pair in the forex market.A pip is a standardized unit and is the smallest amount by which a currency quote can change. It is usually $0.0001 for U.S.-dollar related currency pairs, which is more commonly referred to as 1/100th of 1%, or one basis point.