A pip is the smallest increment in which a currency pair can move in the Forex market. The value of one pip varies by currency pair and lot size. For example, a one pip move in the EUR/USD (euro/dollar) is worth $1 if trading a 10,000 lot contract or $10 if trading a 100,000 lot contract. While nothing is guaranteed in Forex trading, making 10 pips on a trade is a very reasonable goal as currency pairs often move hundreds of pips every day