Pips value

[Dutchy86]

How do I work out the value of a pip on each currency?

 

[Pharaoh]

The value of a pip depends on 3 things.

1. The lot size being traded. Believe it or not, one guy went off the deep end when I showed him that a small pippage loss on a large volume trade ended up losing more than a higher pippage gain on a much smaller volume trade on the same pair. I even showed him the math, but he was unwilling to accept reality.
2. The base currency of your account. If your account is denominated in GBP, then an answer in dollars or yen isn't as meaningful to you.
3. The currencies being traded. Assuming the same sized trade, a pip in EUR/GBP has a different value than a pip on a USD/JPY trade.

In its simplest form, a USD account and a pair ending in USD with 1.0 lot size (100,000 units of currency) will make or cost you $10.

You can learn more details of this in Forex Military School. If this is your main question, start here:

Fractions of the Quote Rate

That should get you pointed in the right direction.

 

[Purekiller]

Everything is correct, everything depends on the lot size, and it is calculated individually at each order. And you need to learn how to do this so that you can correctly estimate how much money you need, what spreads your brokerage company offers, etc.

 

[John perry]

you can get pip calculators to use that show the value of the sl and tp you set for that currency if you need it

 

[adrianmatusiak]

You can use a pip calculator.

 

[JamesEdwards98]

How do I work out the value of a pip on each currency?

There are many Forex trade calculators online - quick Google search.

 

[compu-forex]

Here you go.

Just drop it onto the chart that you want to see the pip value for. Bear in mind that it tells the value of the minimum tick size or 1 point.

Use it on an unused chart because it will delete everything on your chart.

https://www.dropbox.com/s/gs7tm1vppq5rckd/PipValue_Calculator.ex4?dl=0

 

[ForexTus]

myfxbook have a great tool for this

 

[fxoday]

Yes there are so many pip calculator forex we can search, in forex, there are broker 4 digits and 5 digits, the value per pips depending account type, position size and currency, if willing to read about pip, might you can visit here

 

[bigdolly]

How do I work out the value of a pip on each currency?

Pip value depends on the lot size of your order. Since pip is 1/10000 of the exchange rate, you simply multiply lot size by 1/10000 to get pip value. Note that it is expressed in the base currency.