What is a pip – what is a pip – today we will learn about what is a pip?
In this video we show you what is a pip and the correct way to calculate your profits or losses when forex trading. A pip, commonly known as a percentage in point, is a unit of measure in an exchange rate of a currency.
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The value of a pip changes depending on the pair you trade. Calculating the value of a pip is not vital to your success, as a trader, since your broker will automatically calculate the value for you.
However, if you’re going to trade, you should know a little about what is a pip and how it works.
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Meanwhile, the spread is the difference in the bid and ask price. The bid price refers to the rate at which the broker or market maker is buying from the trader and the ask price is the rate at which it is selling to the trader. The bid price is generally set higher than the actual market rate while the ask price is set lower than the actual market rate.
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