Hi All
Newbie here trying to confirm what 1 pip worth using pip calculators
Say
1 British Pound equals
1.27 US Dollar
Nano Account
Account Currency
Account Balance
500
Risk Percentage
1
Stop Loss in Pips
5
Currency Pair
Price for GBP / USD
1.27
CalculateClear
Amount at Risk
5 GBP
Position Size
12700 units
Standard Lots
0
Mini Lots
1
Micro Lots
12
So i have with nano account bought 12 micro lots?
and
Currency Pair GBP v USD
Position Size
12700
Ask Price
1.2728
Value in £
Pip Value
0.9978 so pip value is just under £1.00?
so if i trade the channel in the afternoon on quiet day in USA time and look for 2 tops and 2 bottoms and then try to capture the bounce at bottom and top of channel at 50% of the move so say 16 pips an i try capture 8 pips then if i correct i get 8pips x 0.9978 so say i win £8?
i do this 3 x in the 5 min charts and win 3 x say £8 so £24 , i use stop loss, i know in channel that the last trade i do will be a losing trade so lose £8 so £24 - £8 i make £16 for that 1-3 hour say trading afternoon?
less the spread? dont know how to calculate that at moment .
if i trade the 1 hour channel and go for 80 pip win then i win £80?
the tools section on baby pips is great , just found them
also
Risk Reward Calculator
Reward
40
Risk
5
Ratio
8:1
i put in £ value or should it be pips value?
thanks