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Tradeca Forex pip calculator helps you calculate the value of a pip for any currency pair. Understanding pip value is crucial for trading risk management: basically, it shows your potential profit or loss in case the price moves by one pip. That makes the pip calculator an essential tool you should frequently use while trading.
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To find out the pip value of a certain currency pair or another asset, enter your order details in the calculator.
The pip calculator uses the current Ask price to determine the value of one pip (shown under Pip value) in case the price moves by the number of pips indicated in the Pip amount field.
Example: how to calculate pips in Forex tradingLet us say you want to buy a standard lot of EURGBP, or 100,000 EUR. The current exchange rate for this pair is 0.84730, and you expect it to move 5 pips up—to 0.84780. Each pip is worth 10 GBP for this order, so its expected value change is 50 GBP. The exchange rate for the GBPUSD pair is 1.29820 at the moment, so 1 GBP is worth 1.29820 USD. That means each pip equals 12.9820 USD—that is our Pip value—and your expected profit of 50 GBP equals 64.9100 USD.
How to use the pip calculator for tradingUsing the Forex pip calculator to calculate pip value and potential profit helps you understand possible risks and opportunities in clear monetary terms. Depending on your order size, a pip can amount to $1 as well as $1,000, so you should always consider pip value when deciding whether an order is worth the risk. This pip calculator is a great tool for determining Stop Loss and Take Profit levels. But keep in mind that pip value is different for every currency pair.
One pip is the smallest unit of price change in Forex. For most trading instruments, a pip refers to the fourth decimal point, or 0.0001. However, there are assets with different pip meanings:
Forex brokers usually provide their users with pip calculators to define the value of one pip. Tradeca offers a free pip value calculator that you can use to calculate the pip value and potential order value change for any available currency pair.
A pip usually equals 0.0001 of a Forex pair, so 50 pips equals 0.005, 100 pips—0.01. If one pip is worth $5, 50 pips are worth $250, 100 pips—$500. Use the calculator to compute these numbers automatically.
The pip calculator is essential for planning trades. Use it to evaluate your risks in monetary terms and set a Stop Loss order to prevent excessive losses or approximate your profits before opening a new position.
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