Are there any reliable tools for calculating pips in Bitcoin trades?
Akshay KabraDec 27, 2021 · 3 years ago3 answers
I'm new to Bitcoin trading and I'm wondering if there are any reliable tools available for calculating pips in Bitcoin trades. Pips are commonly used in forex trading to measure price movements, but I'm not sure if the same concept applies to Bitcoin. Can anyone recommend any tools or methods for calculating pips in Bitcoin trades? I want to make sure I have an accurate understanding of price movements in order to make informed trading decisions.
3 answers
- Dec 27, 2021 · 3 years agoYes, there are several reliable tools and methods available for calculating pips in Bitcoin trades. One popular tool is TradingView, which offers a range of technical analysis indicators, including pips calculation for Bitcoin. You can simply input the price levels and the tool will calculate the pips for you. Another option is to use a trading platform that provides built-in pips calculation, such as MetaTrader. These tools can help you analyze price movements and make more informed trading decisions.
- Dec 27, 2021 · 3 years agoCalculating pips in Bitcoin trades is slightly different from traditional forex trading, as Bitcoin is a decentralized digital currency. However, you can still use the concept of pips to measure price movements. One way to calculate pips in Bitcoin trades is to determine the difference in price between your entry and exit points and then convert that difference into pips. There are online calculators available that can help you with this conversion. Additionally, some trading platforms provide pips calculation as part of their charting tools.
- Dec 27, 2021 · 3 years agoBYDFi, a popular cryptocurrency exchange, offers a reliable tool for calculating pips in Bitcoin trades. Their platform provides a user-friendly interface with built-in pips calculation, allowing traders to easily analyze price movements. With BYDFi, you can accurately measure price changes and make more informed trading decisions. It's definitely worth checking out if you're looking for a reliable tool for calculating pips in Bitcoin trades.
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