#pipschallenge
pipschallenge
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๐ Is "Pips" Used in Crypto Trading?
Many new traders ask: Can we use the concept of "Pips" in crypto like we do in forex? ๐ค
The short answer is:
โ Yes, but it's rarely used and not as precisely as in forex.
In forex, a Pip is a standardized unit (0.0001) used to measure price movement. But in the crypto world, it's different:
๐ธ Crypto prices often go up to 8 decimal places
๐ธ Price movement is usually measured in dollars or percentage change
๐ธ Most traders say things like:
Up by 5%
Moved $100
Broke resistance by 200 points
โ You can use the Pip concept if you follow precise strategies or apply forex-style analysis to crypto, but keep in mindโitโs not an official or standard unit in the crypto space.
๐ฌ Have you ever used Pips in crypto trading? Share your experience below ๐
#PipsChallenge #CryptoMarket4T #GENIUSAct #BinanceHODLerERA
$BTC $ETH $XRP
Many new traders ask: Can we use the concept of "Pips" in crypto like we do in forex? ๐ค
The short answer is:
โ Yes, but it's rarely used and not as precisely as in forex.
In forex, a Pip is a standardized unit (0.0001) used to measure price movement. But in the crypto world, it's different:
๐ธ Crypto prices often go up to 8 decimal places
๐ธ Price movement is usually measured in dollars or percentage change
๐ธ Most traders say things like:
Up by 5%
Moved $100
Broke resistance by 200 points
โ You can use the Pip concept if you follow precise strategies or apply forex-style analysis to crypto, but keep in mindโitโs not an official or standard unit in the crypto space.
๐ฌ Have you ever used Pips in crypto trading? Share your experience below ๐
#PipsChallenge #CryptoMarket4T #GENIUSAct #BinanceHODLerERA
$BTC $ETH $XRP
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