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In the image below, a pip is the fourth decimal. Pips are one of the ways by which traders calculate. The fourth and second decimal place are the standard in Forex. Virtually every pair you trade will.

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Without a good exit strategy we are likely to exit trading with premature earnings or generate losses. Thus, we must understand the exits that are possible with our trade and know how to strategize a good exit that will protect our money from big losses.

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