Forex Trading – Pips Explained
March 4th, 2010 by TraderJoe
I’ve been reading about the new forex software Pip Android and I began wondering if the beginner traders know what are those pips anyway. Currency trading pips are a vital part of forex trading that any trader have to grasp. They’re the measure of changes in price, and therefore of profit and loss. Brokers usually interpret pips into dollars and cents for you, or into the currency that your account is held in, if it isn’t US dollars. However, when comparing 2 trades with different position sizes it’s the profit or loss in pips that tells you more than the profit in bucks.
Tags: currency trading, finance, foreign exchange, forex, forex software, forex trading, investing, money, pip, pip android, tradersPosted in
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