Wednesday, 18 April 2012

What Is A PIP

The smallest amount each Currency pair can move is called a PIP (Percentage In Point). For most Currency pairs this movement is reflected in the fourth decimal point, 0.0001. The main exception to this are Currency pairs involving the Japanese Yen (JPY) which is quoted to two decimal points, thus a 1 PIP movement is 0.01. For example, if EUR/USD was to move from 1.3480 to 1.3495 or USD/JPY was to move from 88.50 to 88.65 both reflect 15 PIP movements.

When taking a Long position you make money when the value of the Currency pair rises. Conversely, when taking a Short position you make money when the value of the Currency pair falls. These rises and falls are measured in PIPs.

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Sunday, 5 February 2012

Forex Hijacker Review

Jason Alexander is the guy behind the Forex Hijacker trading system.

His system is based on trading EURUSD and GBPUSD early in the morning, UK time. There are 3 different approaches which can be applied, all are based on the same straddle and overnight range theory.

It is simple to set the system up and identifying the range is also quite straight forward. Choosing which strategy to employ and whether or not to follow Jason's morning emails has to be decided. We chose to trade the Set & Forget option and also to ignore the morning email, mainly because we agreed to differ with it's content quite often.

For 2 months we traded this system as described above and we made a small loss. To view the results in more detail and read our conclusion please visit our Forex Trading Systems Review Site.

You can also read additional comments submitted by our members (other traders like you). Membership is completely FREE and your input would be more than welcome.