14 September 2011
09 September 2011
03 September 2011
Fractions of the quote rate
Commander in Pips: Ok, son, let’s continue with math. But before, I want to ask you – what do you know about the minimum fraction of a rate quote on FOREX?
Commander in Pips: Well, in general, you’re right – 0.0001 is a most common minimum fraction of rate and it is called a “pip”. Can you tell me, what move has happen in terms of pips if EUR/USD rate has increased from 1.3325 to 1.3383?Pipruit: Well, every quote that we’ve discussed previously has 4 decimal places. So, I suppose that it’s 0.0001.
Intermediate Checkpoint
Commander in Pips: Ok, son, I think that now is the time when I will ask some questions and you will have to answer.
Commander in Pips: Don’t worry, pal. This will just be shallow checkpoint that is based on a previous chapter – a single chapter. If you’ve listened carefully, you will not have any problem at all.Pipruit: Well, Sir maybe we should study a bit more. I’m not sure that I’m ready to take a test yet.
Pipruit: If you are saying it like that… I have nothing more than just to believe you. But I have to warn you, that I’ve skipped all the classes at McConnell-Brue’s Economics Course, so I’m absolutely flat with it.
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