When you trade with $1000, 1 pip is = to 10 cents right?

In this video this guy some how says with $1000, 1 pip = 1 dollar.

http://www.youtube.com/watch?v=mhASYFeea54

Im confused lol

Answer
Think of pip as a point. One pip in the spot market is equal to one point in the forex futures market. Whether pip or point, the multiplier for the Yen and Euro make them $12.50 per pip or per point for standard contracts, and $6.25 for the GBP standard contracts. There are also mini and micro sizes that confuse things. One pip is simply the last digit from the decimal point.

Question about making profits in Forex?

What would you prefer :
make 20 pips almost every trade, or make 50 - 70 pips NOT every trade (maybe once every 3 - 5 trades) and make nothing in between ?

(Set up: Stop loss moved to: $0 when market moves + 10 pips)

Answer
I am an active forex trader.


I do not recommend making 20 pips a day. I highly discourage leverage based on my personal experiences. (because I have a small account and I cannot let my profits run since I would get stopped out more often. However, without leverage I can widen my stops, and let my profits run)


I recommend making as many pips as you can based on management of your position using trailing stops, trailing them right under invisible/visible support levels.

I have lots of educational material and courses in forex - Contact me.