pangor
1
I have been trading AUD/JPY but am a bit confused about the actual dollar value showing as profit.
My trading account is in USD, so I presume my broker coverts any profits or losses in AUD to USD at the current rate and this is what is shown.
So what I see will also depend on the USD/AUD rate as well, is this correct ?
regards
peter
There is a pip value for each pair.
Any pair ending in USD:
EUR/USD
GBP/USD
AUD/USD
Will all have a pip value of $1.
Pairs with USD as the base, or pairs with no USD at all will have a different pip value like .83487
In that case, 1 lot would be worth 83 cents. You can usually find the pip value within your broker software.
pangor
3
Thanks for that - have had a look and found it
peter
belgo
4
that doesnt count for me.
$1 will alway be $1
Belgo, what is the price per pip for USD/JPY?
Please provide a screenshot of this.
On a USD/JPY 100,000 contract, one pip is equal to JPY 1000 because USD/JPY is quoted with only two decimals (meaning 1 pip = JPY 0.01).
The exchange rate for 1000JPY to USD will rarely be a whole number, rougly 8.1 i think.