His might sound a little newbish, but .0000 or five decimal points. How do those decimals (pips) look like in terms if money?
Like say (what is—>) 1.0000 ? Is that a dollar?
Another thing, what is .00004 in pips covert it to money?
Or 1.46784 … How does that look like in money ?
I reckon it’s $1.47 cents… But u don’t know what the 7, 8 or 4 stand for or would look like in terms if money value? Help 
Depends on the pair you’re quoting. The exchange rate is quoted in terms of the second pair. So EUR/USD is quoted in terms of $. If we’re talking a rate of 1.3025, that’s $1.30 and 1/4 of a cent.
[QUOTE=“rhodytrader;540137”]Depends on the pair you’re quoting. The exchange rate is quoted in terms of the second pair. So EUR/USD is quoted in terms of $. If we’re talking a rate of 1.3025, that’s $1.30 and 1/4 of a cent.[/QUOTE]
1/4 of a cent would mean that we’re dealing with penny’s, right? So, the “25” would be 25 pennies? 1.30"504" (= 5 pennies, and 4 more pennies?). I also sometimes see a 5th number instead of 4 decimals. I’m just confused on that. Thanks appreciate it.
Ok, let’s take GBP/USD right now as an example. The price quoted by my broker is 1.60417.
Why so many digits? Because price is being quoted to the thousandth of a cent.
The first half of the pair (this case GBP) is always 1. So the pairing tells you £1 = $1.60417.
The last three digits are the cent quoted to three decimal places, so £1 currently equals One Dollar and 60.417 cents. The first two numbers after the decimal (41) are pips, the 7 is a pippette (1 tenth of a pip).
Does that help?
[QUOTE=“TheDayTrader;540335”] Ok, let’s take GBP/USD right now as an example. The price quoted by my broker is 1.60417. Why so many digits? Because price is being quoted to the thousandth of a cent. The first half of the pair (this case GBP) is always 1. So the pairing tells you £1 = $1.60417. The last three digits are the cent quoted to three decimal places, so £1 currently equals One Dollar and 60.417 cents. The first two numbers after the decimal (41) are pips, the 7 is a pippette (1 tenth of a pip). Does that help?[/QUOTE]
Definitely!
Now to clear this up:
The pipette, is it tied to the pip? For example, if the pipette went from (7) and turned to (10), would that immediately turn the pip (1) into a (2) thus making the pips at the end ‘20’ (=60.420)?
If that’s the case then would the ‘4’ (in 60.420) change if the pips [20] went to ‘99’ (I.e 60.499 ~> 60.500) ? Thank you a ton, you’ve really made me understand this.
Exactly.
Yes, these are just decimal counters. For any number to go above 9 will cause the number to the left to increment by one and the 9 becomes a zero.
[QUOTE=“TheDayTrader;540574”] Exactly. Yes, these are just decimal counters. For any number to go above 9 will cause the number to the left to increment by one and the 9 becomes a zero.[/QUOTE]
I can’t thank you enough!
I was lost on that. I totally get it now. Just one more question, lol why does the yen only have 2 decimal points instead if 4?
All Yen pairs are quoted with two or three decimals, depending on your broker. Again, if there are three then the last digit is a pipette.
As to why? I have no idea! 
Generally speaking, pairs that are priced with a double-digit handle (the part before the decimal place), only get quoted to 2/3 digits. It’s about the relative changes in currency value. A 1 pip (0.01) move in USD/JPY is in the same value ballpark as 1 pip (0.0001) in USD/CHF.
Here’s an article about pips and pipettes if you’re interested in further reading:
Pips and Pipettes | How Do You Trade Forex? | Learn Forex Trading
And then here’s a calculator if you want to calculate how much money you’re gaining/losing per pip movement.
Pip Calculator: Free Online Forex Pips Calculation Tool for Traders
Hope this helps.