Calculating pip valus, profit / loss

Beginner Questions
1

I need serious help is calculating pip values, profit/loss for currency pairs with leverage.
I have opened the demo account with $500. What I want to know is if I open

  1. EUR/USD , volumne : 0.05 (I believe this is the lot size in MT4)
  2. GBP/USD , volumne : 0.05
  3. EUR/GBP , volumne : 0.05
  4. USD/CHF , volumne : 0.05
    What is the pip value, profit / loss for the above pairs and how do we calculate (formula) it? How does the leverage falls into the calculation.
    I only wants to risk 3% of the $500 = $15, but don’t know how many pips that totals upto $15 for each pair to set my stop loss when trading.
    I have been reading many articles about this, but so far couldn’t understand how the pip value and profit / loss calculated with leverage.

Any help is greatly appreciated.

2

have you tried putting on a trade using such volume (0.5)? most of your questions would be answered if you do so. your broker’s spreads would also play a part here.

3

Yes, that works, but I would like to know the formula (if possible).

4

This should help you:
True Leverage in MT4 @ Forex Factory

Angie