What is Pip ?

Pip measures the amount of change in exchange rate of a currency pair and is calculated using the last decimal point. Knowing the pip value of a currency pair gives a trader a more precise assessment of how many pips of risks a trader is taking.

I see that there are already several explanations with the answer to your question, but I wanted to point out that the Babypips website would probably help you out. They have a lot of content that focuses on beginners. I also was confused about pips at first but the site explains things in a way that is easy to follow.

In forex trading, pip is an acronym that denotes ‘percentage in point’ or ‘price interest point’. It is the smallest price move that an exchange rate makes on the basis of forex market convention. Generally, all the currency pairs are priced out to four decimal places while the pip change is the last decimal point.

Dictiony posted:
What is Pip In Forex, I am learner and asking for this question for learning purposes.

I see you already have your answer! In your trading, you should set your SL and TP according to the Pip calculator; don’t set your TP randomly, always try to set this position according to the market chart!

refer image for pips:

In order to make profitable trades, traders have to catch pips. They are referred to as the minimal changes in the price of a currency pair. For instance, Say EUR/USD was quoted at 1.7581 when you bought this pair. After a while, due to market’s volatility, its value changed to 1.782. So if you look closely at the price, the last digit has increased by 1. That’s what is called a pip. Generally, a pip is the fourth value after the decimal (0.0001). But there are exceptions; all pairs formed with the Japanese Yen follow 0.01.

In forex trading, the pip is the amount by which the currency pair has moved. It refers to the smallest change in the price of a currency pair. It is the minimum amount that the price can move, either up or down.

Pip is a point in percentage, it determines a price move in an exchange rate. It mostly happens when the market shifts. To get a better idea, watch a few informative videos.

Pip is the smallest price fluctuation that a currency price can make. On the currency market, a pip is the smallest price movement of one currency versus another. It is usually represented in decimal digits.