It is called a pip and its value is the equivalent of 0.0001 of a dollar, in most currency pairs, and it is the smallest increment on the Forex market. A pip in the Japanese Yen is 0.01. Now you might find yourself wondering what the Forex market actually is and why anyone would possibly think chasing pips was ever going to be a profitable endeavor. However, with almost $2 trillion dollars being exchanged on the Forex each and every day it is open (from Sunday through Friday, the market trades 24 hours a day), those pips can quickly add up to big profitsor big lossesreally quick. This makes it one of the most exciting, volatile, and engaging markets in the investment world.
So what exactly is the Forex anyway? Well, the Forex is just a big market where corporations, nations, and investors can exchange money. For instance, if an American corporation wanted to fund their payroll account for an office in Paris, they would need to convert U.S. dollars into Euros. However, one U.S. dollar does not equal a Euro.
To convert the money, the business would need to buy Euros with dollars on the Forex. The USD/EUR currency pair is what the company would need to buy in...
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