"In the forex market, the change in unit price movement called PIP. for example, the current price of GBPUSD is 1.50 and then 1.5602 if the price change is called pips rose up to 2 "
smallest unit Currency (Point / pip) and contract size
Point (pip) is the smallest unit of price movements in the forex. A point (pip) for the GBP / USD is 0.0001, while a point for the USD / JPY is 0:01. Example: .. GBP / USD, the movement from 1.8500 to 1.8550 is 50 points
point value (PIP) based on the number of market size (lot) and the currency
contract size is the smallest number in forex trading. In general, the contract size that is often used is the Standard Lot, Lot Mini and Micro Lot. The standard lot is equal to $ 100,000, Mini Lot is $ 10,000 and Micro Lot is $ 1,000.
If the forex broker supports standard and Mini Lot, that means you can trade with a number of multiples of 100,000 and 10,000. For example:. $ 30,000, $ 0,000, and other
Suppose you buy (buy) GBP / USD 1 lot. Then the market moves up to 10 points. And then you close your transaction, the benefits you can adalahc 0.0010 x 100,000 = $ 100
By knowing the pip and this much now you know that the size of the purchase amount is the lot, the loat term is equivalent to the term dozen, Kodi, Rim and others. while the market size of the movement point or so-called PIP.
The teaching materials are still forex Forex Quotes