Resolved Question
What is the meaning of pips?
Please answer my questions with this example so I can get it right. Lets say that the price of Euro is 1.65432 dollars at the moment. If we want to buy euros and set a take profit of 30 pips above this price what that value should be?
over 2 years ago
Best Answer - Chosen by Asker
A pip is the smallest price change that a given exchange rate can make. In your example, 1 pip equals 0.0001. But some broker nowadays use a smaller unit of measurement - micropips. In your example that would be 0.00001 (notice five decimal places). Using this as definition, if you buy EUR/USD at the rate of 1.65432 and it moves 30 pips... You just add 0.0030 to it and you would get 1.65732.
over 2 years ago
Answers (1)
If we bought Euro at the price of 1.65432 with a take profit of 30 pips, Our price will then ne.1.65462
over 2 years ago
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