FOREX... what is a Pip?

haha=D Sorry, ah gong, i'm not able to help u because i'm not really into forex.. However, if u need some kind of help, u can approach angelia though, because she's interested in forex as well.. haha=D

Forex might be easy money, but u can lose just as much when one starts to get greedy.. So, it pays to be careful and only enter the market when u are really sure about it^_^

Some time ago, a PIP was what you said, but now, it´s not correct that definition.
For example, a pip in the eur/usd market is 0.0001, but some brokers now offer quotes with one more decimal, for example, 1.42155, so the minimum amount that can move is 0.00001, but the pip it´s still 0.0001, because, before that was the minimum amount that the pair could move, eventhough nowadays that has changed, the pip is still as I said 0.0001
The GBP/JPY a pip is 0.01, and as in the other pair, some brokers offer quotes with one more decimal, such as 98.915
For silver and gold a pip is also 0.01

As for the price, it depends on the lot you are trading. If you are trading a full lot (10k), each pip is worth 1 dollar, if you are trading 0.1 lots, each pip is worth 10 cents. Some broker now have units instead of lots, it´s the same, 10000 units is one lot, so 100 units are worth 1 cent each pip.