The School of Pipsology is our free online course that helps beginners learn how to trade forex. If you've always wanted to learn to trade but . Using this example, if we traded 10, units of USD/CAD, then a one pip change to the exchange rate would be approximately a USD change in the position value (10, units x USD/unit).
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As this example demonstrates, the pip value increases depending on the amount of the underlying currency in this case euros that is purchased.