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Originally Posted by BENEX
....what does 20 pips translate too in dollars...give me an hypothetical,
I'm a "newbie". I want to feel inspired about, "FOREX".
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Hi Benex,
To give you a "straight answer".... 20 pips is roughly $200.00 (if you are trading a standard account, using one lot, which means you are "controlling" $100,000.00 in your trade). Each pips is worth about $10.00, but that will change depending on which currency pair you are trading! The USD/CND is on $7.50 per pip, while the EUR/GBP is worth $17.00 per pip.
In Mini-accounts, each lot is generally worth 1/10th of a standard lot...so each pip would average a value of $1.00.
I hope this helps.