What is the best method to measure pips in the cryptocurrency market?

3 answers

• Akshu BaWaJul 29, 2021 · 5 years ago
  The best method to measure pips in the cryptocurrency market is by using the percentage change in price. To calculate pips, you can take the difference between the entry price and the exit price, and then divide it by the entry price. This will give you the percentage change in price, which can be used as a measure of pips. For example, if you bought a cryptocurrency at $100 and sold it at $120, the percentage change would be (120-100)/100 = 0.2 or 20%. This means that you gained 20 pips on your trade.
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• Umar ShekhFeb 25, 2023 · 3 years ago
  When it comes to measuring pips in the cryptocurrency market, there are a few different methods you can use. One common method is to calculate pips based on the decimal places in the price. For example, if a cryptocurrency's price moves from $10.00 to $10.01, that would be a 1 pip movement. Another method is to use the percentage change in price, similar to how it's done in the forex market. Both methods have their pros and cons, so it's important to choose the one that works best for you.
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• MegarosssNov 29, 2021 · 4 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using the percentage change in price as the best method to measure pips in the cryptocurrency market. This method allows for easy comparison between different cryptocurrencies and provides a standardized way to measure price movements. By calculating the percentage change in price, traders can accurately assess the pips gained or lost in their trades and make informed decisions based on this information.
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