![]() ![]() ![]() ![]() It’s like a fraction of a cent in stock share prices. The 2nd decimal is a full pip and the 3rd decimal is a pipette, or fraction of a pip. Yen pairs are quoted in 2 or 3 decimal places. There are basically 2 types of price quotes in commonly traded Forex pairs. If you understand this already, feel free to skip down to the next section. You’ll need to understand the concept of pips in Forex to calculate risk, so I’ll cover that briefly before we move on.
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