to get pips point
can use this pips calculator
pip is:
Easy to get win on trading forex
Pip (or Points) is to used in currency market to represent the smallest incremental move an trading rate can make. On context, a change of 1 pip is normally one basis point (0.0001 in the case of EUR-USD, GBD-USD, USD-CHF and .01 in the case of JPY-USD.
Lot is:
In the forex market, A standard contract is equal to $100,000 USD. A trader placing a 4 lot trade is thus trading $400,000 dollars in the market. Because most traders are using margin, standard lots are typically controlled with $2,000 (50:1* leverage). The above contract sizes are listed in order to determine pip values based on the contract size you are trading. As you likely know, many currency brokers now offer 'mini' or even 'micro' lots. Mini contracts are simply 10% the size of a standard lot, a micro contract would thus be 10% the size of a mini contract.from ibfx.com