A pip (percentage in point) is the smallest unit in an exchange rate.
Most major currencies quote prices to four decimal places. That fourth decimal place is the pip, the lowest change possible, and the unit in which a trader counts profit or loss. The Japanese yen, however, quotes to five decimal places. Fractional pips appeared with the influx of electronic trading platforms, allowing for price quotes displayed to 1/10 of a pip.
The Toronto Stock Exchange (TSX) is Canada's largest and oldest equities trading and capital raising market. The TSX is part of TMX Group, which is a publicly traded company that operates several Canadian markets and clearinghouses for equities, cash, derivatives, fixed income and energy. The TSX dates back to 1852, when it was an association of 12 Canadian businessmen. The exchange was formally founded on 25 October 1861, when 18 stocks could be traded. In 1977 it became the world's first stock exchange to introduce computer-assisted trading. In the late 1990s it became the first exchange to introduce decimal trading…
Achieving success in the foreign exchange (forex) marketplace can be challenging. Nonetheless, traders from around the globe, both experienced and novice, attempt to do exactly that on a daily basis. Given the above-average failure rate of new entrants to the market, one has to wonder how long-run profitability may be attained via forex trading. Among the many ways that forex participants approach the market is through the application of technical analysis. By definition, technical analysis is the study of past and present price action for the accurate prediction of future market behaviour. The premier tools for the practice of technical…
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