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  • mr_forex

    @ezyforex I posted a reply to your forex question. I hope you are not a fake writing for $. If you need help go to the link!!

    by mr_forex about 5 hours ago

Pips

The pip is defined as the smallest increment a currency pair can take. For instance, for the USD/CAD pair, a pip is 0.0001. For the USD/JPY pair a pip is 0.01. A pip is also known as a point.

Recently, many Forex brokers changed their price quotes from a 4 digit quote to a 5 digits one. This practically changed the smallest increment a currency pair can move, but the pips have remained the same.

There used to be a trick that you could use with 5 digits quote to know what a pip is, but it doesn't work everytime anymore:

The trick is simple: take the exchange rate and count 5 digits backwards. For instance, today, the USD/CAD is at 1.04328 (a 5 digit quote). Count 5 digits from the first: 1, 0, 4, 3, 2. The 2 is the 5th digit in the quote and it's at the 4th position after the decimal point, so a pip for the USD/CAD is 0.0001. This is also true for the EUR/GBP, EUR/USD and a lot of other currency pairs.

For the USD/JPY it's a different story. The USD/JPY exchange rate was historically over 100 Yen for a Dollar. This is why the Pip value for the USD/JPY is 0.01. However, the USD has lost value in relation to the Yen, so it's value today stands at 86.693. Even so, a pip is still 0.01, because this used to be the place of the 5th currency in the quote. This is also true for the CHF/JPY and other currencies involving the Yen.
 
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  • FOREX TRADING - 17th sept USDCAD -17 pips (http://cli.gs/AUgq1)

    by khuraam (khuram) Thursday, 21 January 2010 10:59

  • +75 pips since posted 15 hrs ago http://bit.ly/6jxIiC $USDCAD #canada #forex

    by alaidi (Ashraf Laidi) Thursday, 21 January 2010 10:55

  • ACTE #forex #mkt signal within $USDCAD and $USDCHF was perfect! About 4000+ pips with two trades... How they do this?

    by phe0n1x (NEoWave trader) Thursday, 21 January 2010 10:52

  • 150 pips in store now on short Cable. I lower my stop to 16245 to ensure we make at least 50 pips on this one. #fX #forex #cable

    by quantts (quantts) Thursday, 21 January 2010 10:49

  • +710 Pips, Weekly Total So Far. http://bit.ly/548WVR [ #Forex #Currency #MKT #Fx #EURO #USD #JPY #GBP #Dollar ]

    by FirePips (FirePips) Thursday, 21 January 2010 10:25

  • Latest forex trading results listed here http://www.logolab.co.uk ------ Black Dog Forex Trading up +840 pips.www.blackdogforextrading.co.uk

    by paul_cu (Paul Cunningham) Thursday, 21 January 2010 10:04

  • Latest forex trading results listed here http://www.logolab.co.uk Black Dog Forex Trading up +840 pips.www.blackdogforextrading.co.uk

    by paul_cu (Paul Cunningham) Thursday, 21 January 2010 10:03

  • @ 50pips @tradercisco @faithmight @ leanco @ propiprobber @ fxdirk Looking forward to sharing the fun with FOREX with all of you. Best Pips!

    by mnforex (Henry Griner) Thursday, 21 January 2010 10:03

  • Trading Forex Pips And Making Money: http://forexcurrencydaytrader.com/255

    by DayTraderForex (Forex Day Trader) Thursday, 21 January 2010 10:02

  • Latest forex trading results listed here http://www.logolab.co.uk/ Black Dog Forex Trading up +840 pips.www.blackdogforextrading.co.uk

    by paul_cu (Paul Cunningham) Thursday, 21 January 2010 10:02

  • Forex Signal Service Averages 284 Pips Per Week. - Massively Successful Forex Signal Service Is The Perfect Upsell/... http://ow.ly/16o1K8

    by BaliArtSpace (BaliArtSpace) Thursday, 21 January 2010 09:17

  • Forex Signal Service Averages 284 Pips Per Week. - Massively Successful Forex Signal Service Is The Perfect Upsell/... http://ow.ly/16o1K9

    by FunBaliTravel (FunBaliTravel) Thursday, 21 January 2010 09:17

  • #forex Trade 85580653 Closed EURCHF sell 1.4727 Pips: 10.4 total: 438.3 autotrade: http://bit.ly/6ZyYIG info: http://bit.ly/6DSyW4

    by FxSignals4Free (Kamil Burzynski) Thursday, 21 January 2010 09:09

  • +610 Pips, Weekly Total So Far [ #Forex #Currency #MKT #Fx #EURO #USD #JPY #GBP #Dollar ]

    by FirePips (FirePips) Thursday, 21 January 2010 08:26

  • #Humphreybo Forex: Gold +4$ early Asia, NZD/USD follows +6 pips -: Forex: Gold +4$ early Asia, NZD/USD follows +6 ... http://bit.ly/8trlVg

    by humphreybo (Humphrey Bo) Thursday, 21 January 2010 08:14

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