I am trying to sort out in my head the trading of forex
the prices are quoted to 4 decimal places, or points (or pips)
you buy with $100 or your own money which gets you $10,000 worth of currency (margin 100:1)
So for every point change of the chart you lose/earn $1
entry price 1.0000
exit price 1.0010
which is 10 point profit, so you get $10 profit for your $100 buy
Is this correct?