How can we follow up with PIP movements?

<p id="isPasted">You can follow and track PIP movements using real-time charting software, economic calendars, and specialized online tools that offer live market data.&nbsp;</p><p><strong>1. Trading Platforms and Charting Software</strong></p><p>Most forex brokers provide advanced trading platforms (like MetaTrader 4/5 or cTrader) and web-based charting services that visually track price changes in real time.</p><ul><li>Candlestick Charts: These are the most popular method for visualizing price movements, including the open, high, low, and closing prices (HLOC) for specific timeframes. A moving price creates patterns and trends that traders use to identify opportunities.</li><li>Built-in Tools: Platforms feature tools (like the date and price range tool on TradingView) that automatically calculate the number of pips a price has moved between two points, which helps set stop-loss and take-profit levels.</li><li>Pip Counter Indicators: You can add free indicators, such as the "blue digits FX" counter for MetaTrader, to display the total pips gained or lost across multiple open trades directly on your chart. </li></ul><p><strong>2. Online Pip Calculators</strong></p><p>Manually calculating pip values for different currency pairs and lot sizes can be complex. Online calculators simplify this by instantly providing the monetary value of a single pip movement based on your position size, currency pair, and account currency.&nbsp;</p><ul><li>Usage: Simply input the required details (currency pair, position size, account currency) into a calculator on a site like Dukascopy's Forex Pip Value Calculator to see the precise value of a pip move. This aids in effective risk management. </li></ul><p><strong>3. Economic Calendars</strong></p><p>Major news events, such as GDP reports, interest rate decisions, and employment data, often cause sharp and volatile PIP movements. An economic calendar helps you anticipate these events.&nbsp;</p><ul><li>Tracking: Websites like Forex Factory or Bloomberg provide calendars that list scheduled economic releases and their potential impact, allowing traders to prepare for increased volatility. </li></ul><p><strong>4. Demo Accounts</strong></p><p>Practicing on a forex demo account (paper trading) is an excellent, risk-free way to understand how pips translate to profits and losses in a real-time, simulated environment. This builds confidence in your tracking and calculation abilities.&nbsp;</p>