In Forex trading, what is a pip, and why is it important?
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In Forex trading, a pip is the smallest price movement, usually 0.0001 for most currency pairs. It’s important because it measures price changes, helps calculate profit and loss, and standardizes trading terms across the market.
A pip (percentage in point) is the smallest price move that a given exchange rate can make based on market convention. It is important because it helps traders measure price changes and determine profit or loss.