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A pip (or percentage in point) refers to the last decimal place of a currency quote. It is the smallest unit of price that is traded for a currency. Pips are used to measure your profit or loss. To learn more, visit the BabyPips site I posted below:
7 months ago
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For example, if the GBP/USD moves from 1.5750 to 1.5751, that is gain of ONE pip. A pip is the last decimal place of a quotation. A positive or negative pip value is how you measure your profit or loss.
7 months ago
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