Thank you for sharing accurate information in a well concise and structured manner. Learning about Pips is really important as it is the measuring unit of profits and losses. Traders calculate their expected risks and expected profits in terms of pips and make their trading decisions.
Thank you for your helpful post! Imo, It is very important to understand the importance of calculating pips as they hepy in calculating your potential profits and potential risks to make trading decisions.
We cannot emphasise enough how crucial it is to educate oneself about the currency market. Before risking your own money, spend some time learning about currency pairs and the factors that influence them. It's a time investment that could end up saving you a significant sum of money.
Pips are a very important concept. A strong risk management consists of a wise usage of pips. For beginners, it is generally suggested to keep risk: reward as 1:2 by keeping stop loss at 15-20 pips and take profit as its twice.