Do not worry if the quote currency is different from your account’s base currency, because the system carries out the conversion automatically. Tools like mobile apps, browser calculators, and MetaTrader plugins can simplify pip calculation. They offer convenience and accuracy, letting you focus on your trading strategy. Forex trading requires knowing how to calculate pips […]

The value of a pip can vary depending on the currency pair being traded and the size of the trade. It is typically the fourth decimal place in most currency pairs, except for Japanese Yen pairs, where it is the second decimal place. This basic unit of measurement is essential for managing risk and understanding […]

When trading forex, “pips” are the most basic unit of measure. You might also want to check out our position size calculator. Jay and Julie Hawk are the married co-founders of TheFXperts, a provider of financial writing services particularly renowned for its coverage of forex-related topics. While their prolific writing career includes seven books and […]

You must define how many pips you are willing to lose or gain in a trade to implement proper risk management. You’ve probably heard of the terms “pips,” “pipettes,” and “lots” thrown around, and here we’re going to explain what they are and show you how their values are calculated. Mastering the idea of pips […]