How to calculate profit and loss on forex trading
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Pips and Lots
Before we dive into calculating profit and loss, it's important to understand the terms "pips" and "lots." A pip is the smallest unit of measure in forex trading, and it represents the fourth decimal place in a currency pair. For example, if the EUR/USD currency pair moves from 1.2000 to 1.2001, that's a one pip move.
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