Pips are small but easily countable items. It is used to describe the dots on dominoes, dice, denote suits, and is the name for the seeds of fruit. It could be used as a synonym for dot in most situations, for example morse code
Formerly referred to as plant pesticides, substances that act like pesticides that are produced and used by a plant to protect it from pests such as insects, viruses, and fungi
Digits added to or subtracted from the fourth decimal place, (ie 0.0001) Also called Points
Point in Percentage. Digits added to or subtracted from the fourth decimal place, ie 0.0001 On some positions like the USDJPY, the pip is the second decimal place
The term used in the currency market to characterize the smallest incremental move an exchange rate can make. The value of a pip depends on the currency pair. One pip/basis point equals for instance 0.0001 for EUR/USD, GBP/USD and USD/CHF, and 0.01 for USD/JPY