Hey everyone, I was reading about pips forex and came across this guide on what is a pip in forex trading.
I’m curious to open a discussion here:

• How do you personally define a pip in forex?

• In your experience, how important is understanding pips for risk management or position sizing?

• Do you use pipettes (fractional pips)? If so, how does that influence your trading?

• Any tips or pitfalls to watch out for when calculating pip value, especially in exotic or yen-based pairs?