However, when you think about your profit you must also take into account so called Spread. Spread is the difference in the BID/ASK (BUY/SELL) of the currency pairs. For example if EUR/USD is currently being traded at 1.23235/1.23243, the spread in this case is 0.8 pips or 0.00008). The exceptions to this are the JPY pairs which are quoted to just 2 decimal places, so USD/JPY price of 97.41/97.44 displays a 3 pip spread. Spreads can go from just 0.1 pips to huge amounts of over 30 pips in some so called exotic pairs. However, in major Forex pairs spread is always within 5 pips.
This leads us to the next chapter in which we will say more about Forex major and minor pair.