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A forex pip is representative of the amount of change in the exchange rate of a currency pair. For currency pairs displayed to four decimal places, one pip is equal to 0.0001 is the smallest amount by which a currency pair can change, which is usually $0.0001.
To understood pip forex definition and pips meaning, Forex pips explained by an example, assume that you have bought EURUSD at 1.1024 some days ago and you sell it today at 1.1640. if you reduce 1.1640-1.1024 then you had 616 pip benefit which shows your profit in proportion to pip value. pip value is really important for Forex trading for beginners, Try our online forex pip calculator to find a forex pip value.
For Forex trading basics visit: http://www.forexhighs.com/forex-trading-course/forex-trading-basics/
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