A
pip is the smallest price increment in forex trading – pip stands for
short percentage in point. Prices are quoted to the fourth decimal point
in the forex market. Pips are so important because they are the basis
for calculating profit or loss in forex trading. Pips is the plural
number of pip. For
most currencies its 0.0001. In the following screenshot, "0", "6"
indicate pip. You get real picture of pip in the following chart.
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