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WHAT OUR COMMUNITY SAYS ABOUT US
This is the best app when it comes to Crypto and Forex Trading.
- Chris J.
I was able to compound my account almost 3 times what I originally put in it. It was easy—all you do is copy and paste. It gave me a lot of confidence with my trading capabilities.
- Carmen F.
I’ve been able to compound several accounts by taking different types of trades, just by simply copying and pasting signals.
- Paulina O.
GOT QUESTIONS?
Before placing a trade, you should always plan on how many pips you are willing to risk and how many pips you are eager to gain. This is a significant factor when it comes to risk management. Your risk should always be lower than your reward. Example: You risk 20 pips to make 100 pips, not the other way round, where you risk 100 pips to make 20 pips.
You can choose how much you earn or lose per pip. Some people will choose to earn $0.10 per pip, and some will want to earn $100 per pip depending on their account balance and appetite for risk. On a $1,000 account, most people use 0.10 lot size to trade. Which means you will earn $1 per pip or lose $1 per pip if the market goes against you.
If you take 10 trades and have an 80% win ratio, you win 8 trades with a total of +1000 pips ($1000) and lose 2 with a total of -200 pips(-$200), you would earn a net profit of $800 (800pips).
A pip is a fundamental concept of foreign exchange (forex). Forex pairs are used to disseminate exchange quotes through bid and ask quotes that are accurate to four decimal places.
In simpler terms, forex traders buy or sell a currency whose value is expressed in relationship to another currency. Pips measure movement in the exchange rate. Since most currency pairs are quoted to a maximum of four decimal places, the smallest change for these pairs is 1 pip. The value of a pip can be calculated by dividing 1/10,000 or 0.0001 by the exchange rate. For example, a trader who wants to buy the USD/CAD pair would be purchasing US Dollars and simultaneously selling Canadian Dollars. Conversely, a trader who wants to sell US Dollars would sell the USD/CAD pair, buying Canadian dollars at the same time.
Traders often use the term “pips” to refer to the spread between the bid and ask prices of the currency pair and to indicate how much gain or loss can be realized from a trade.
Japanese Yen (JPY) pairs are quoted with 2 decimal places, marking a notable exception. For currency pairs such as the EUR/JPY and USD/JPY the value of a pip is 1/100 divided by the exchange rate. For example, if the EUR/JPY is quoted as 132.62, one pip is 1/100 ÷ 132.62 = 0.0000754.
