Pips trying to understand them

Beginner Questions
1

Let’s say my lot size is .05 and I have .40…is that 40 pips?

2

Can you give a little bit more details on your example?

I have understood lot size, 0.05 which is 5 micro lots.

What is .40?

1 Like
3

Pip is a movement of price,

4

I know that .05 is 50 cents but when ur position is .40 do you times that by 50 cents ? Is 1.00 1 pip or 100 pips?

5

0.4 lots is $4 per pip