Resolved Question
I need help on analyzing the P/L & Balance figures on the forexyard demo.
I have been trading on the demo for about a week now. Lets say I am buying USD/CHF at 1.5240 and I sell at 1.5250. I make 10 pips right? from what I know 1 pip=0.14 for a $1000 trade with 10,000 lot size. But once I exit my trade my balance will not show what I calculated. If anyone can help me with the calculations I'd appreciate it. I can send a screen shot of what I am talking about. May be better. Thanks. Shwata.
about 1 year ago
Best Answer - Chosen by Voters
To get the pip value of a certain currency pair, you have to divide the 1 pip by the exchange rate. If you're buying at 1.5240, one pip of 10,000 units would equate to,
(.0001/1.5240) x 10,000 = 0.65616 USD per pip
If you're going to close out at 1.5250, you just do the same thing
(.0001/1.5250) x 10,000 x 10 pips = 6.55738 USD per pip
Just check out the link I posted below to learn more about calculating profits and losses!
about 1 year ago
Source(s):
Answers (1)
Hello, mate! Your questions requires specific and accurate answers. I strongly recommend that you contact your broker as soon as possible. Please click the link below. It will bring you directly to your broker. Hope this helped. :)
about 1 year ago
Source(s):
* You must be logged in to add comments. Sign In or Join Askpips.com.
Open Questions in Beginner
Resolved Questions in Beginner
- Should I go live? Please give me your advice on this.
- For a newbie, which currency pair do you think is the best to start with?
- Which do you think is better? Daytrading or Position Trading?
- For a newbie like me, is $1000 a good starting deposit in forex?
- I work full time and I'm wondering if signal providers really work. Has anybody had any experience with them?
* You must be logged in to add comments. Sign In or Join Askpips.com.