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Learn Forex Trading > Day 1 Class > What is PIP ? |
What is PIP ? PIP Means Percentage In Points
All prices in the Forex market are quoted
with 4 decimal point in a quote. Eg.GBP/USD 1.9455 |
How to find a PIP Value ? |
First of all you must understand currency
quoting conventions and the difference between the base currency and the
terms ( Quote ) currency. As earlier described about Base / Quote Currency
in the Forex introduction Chapter Introduction to Currency Pairs |
Understanding the Pip Spread |
Difference Between Sell / Buy = 3 PIPS
The spread is closely associated with the
pip and has a major importance for you as a trader. It is the difference
between the selling and the buying price of a currency pair. It is the
difference in the bid and ask price. The ask is the price at which you buy
and the bid is the price at which you sell. |
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