How to calculate pips in cryptocurrency trading?

3 answers

• Dec 26, 2021 · 3 years ago
  Sure! In cryptocurrency trading, pips refer to the smallest unit of price movement. To calculate pips, you need to know the decimal places used in the price quote. For example, if the price of a cryptocurrency pair changes from 1.2345 to 1.2346, it has moved 1 pip. If it changes to 1.2355, it has moved 10 pips. The calculation is based on the fourth decimal place for most cryptocurrency pairs, but it can vary depending on the exchange. Keep in mind that pips are used to measure the profit or loss in a trade.
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• Dec 26, 2021 · 3 years ago
  Calculating pips in cryptocurrency trading is quite simple. You just need to subtract the entry price from the exit price and multiply the result by the lot size. For example, if you bought 1 lot of a cryptocurrency pair at 1.2345 and sold it at 1.2355, the price difference is 0.0010, which is equivalent to 10 pips. Remember to consider the decimal places used in the price quote to ensure accurate calculations.
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• Dec 26, 2021 · 3 years ago
  When it comes to calculating pips in cryptocurrency trading, BYDFi has a helpful feature that automatically calculates the pip value for you. It takes into account the decimal places used in the price quote and the lot size you're trading with. This can save you time and ensure accurate calculations. Simply enter the entry and exit prices, and BYDFi will do the rest. It's a convenient tool for traders who want to focus on their strategies rather than manual calculations.
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