point?
D
A point (pip) is the smallest number in a quotation of a currency.
For example if the quotation of EUR/USD is 1.2025, a pip is represented by 0.0001.
However, for a different currency such as USD/JPY 116.25, a pip will be 0.01.
In order to calculate the pip value or how much is one pip, you have to know some additional information such as: trading size, leverage used, and of course the actual rate of the pair for which you want to calculate the pip value.
Glommed from: http://www.learnforexpro.com/learn-forex-trading-tutorial.php
IOW - its a way of converting 'number of pips' to 'price difference' (of a given pair)
Good Luck
-BB-
D
A point (pip) is the smallest number in a quotation of a currency.
For example if the quotation of EUR/USD is 1.2025, a pip is represented by 0.0001.
However, for a different currency such as USD/JPY 116.25, a pip will be 0.01.
In order to calculate the pip value or how much is one pip, you have to know some additional information such as: trading size, leverage used, and of course the actual rate of the pair for which you want to calculate the pip value.
Glommed from: http://www.learnforexpro.com/learn-forex-trading-tutorial.php
IOW - its a way of converting 'number of pips' to 'price difference' (of a given pair)
Good Luck
-BB-
Ok great thanks
D
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Can anyone tell me what the predefined variable "point" contains? The documentation says "Point size in the quote currency"? Im not sure what this means, Im confused by a definition of a word which uses the word its trying to define in the definition???
Many thanks