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SMC Terminal Blog

Smart Money Concepts, positioning, seasonality and session timing — written the way the terminal reads them, with the numbers behind every claim.

Showing posts tagged #pipsAll posts →
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Forex Basics
Oct 26, 2026 5 min read

What Is a Pip in Forex? Pip Value, Pipettes and How to Calculate It for Every Pair

A pip in forex is the standard unit of price movement: the fourth decimal on most pairs and the second on yen pairs. This guide explains what a pip is, why the yen pairs differ, what the fifth decimal (the pipette) is for, how to convert pips into money for any pair and lot size, why pip value changes with the quote currency, and how gold and indices are measured instead.

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Oct 15 6 min read

Forex Trading for Beginners: Currency Pairs, Pips, Lots and Spreads

Forex trading for beginners starts with four words that every price, cost and position size is built on: pair, pip, lot and spread. This guide explains each with real numbers — how a quote is read, what a pip is worth, how lots turn into money at risk, and why the spread is the first thing a trade has to earn back.

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