The declaration syntax for a DECIMAL column is DECIMAL(M,D). The ranges of values for the arguments in MySQL 5.1 are as follows:
M is the maximum number of digits (the precision). It has a range of 1 to 65. (Older versions of MySQL permitted a range of 1 to 254.)
D is the number of digits to the right of the decimal point (the scale). It has a range of 0 to 30 and must be no larger than M.
Taken from the manual :D