Forex Lesson 06 Quiz 06 - SureShotFX

Forex Lesson 06 Quiz 06

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Welcome to Lesson 06 Quiz 06 on "What is a Pip in Forex Trading?"

1. What is a pip in forex trading?

2. How is the pip value related to profit and loss in forex trading?

3. What is the last decimal number or place in a price quote that represents a pip?

4. In a currency pair like USD/JPY, what is the tick size if the price updates after every $0.50 move?

5. What is the difference between a pipette and a pip in forex trading?

6. How do you calculate the total profit from a trade given the number of pips gained, trade amount, and exchange rate?

7. What is a tick in forex trading?

8. How is tick size determined in forex trading?

9. Which of the following is not a synonym for pip in forex trading?

10. In the trade sample on EUR/USD, if the entry is at 1.3505 and the exit is at 1.3525, what is the profit/loss in pips?

12. What three factors does the pip value depend on in forex trading?

About our author

Sarah Thompson

Sarah Thompson

Sarah Thompson is a professional Forex trader with over 7 years of experience in the financial markets. She specializes in Forex trading strategies, technical analysis, Gold and Indices market trends, risk management, and performance evaluation. Since joining SureShotFX in 2021, Sarah has authored numerous in-depth articles, reports, and insights for traders of all experience levels.