Calculating Pips

I’ve been reading and re-reading the school of pipsology but I’m still having trouble learning to calculate pips. Lets say I bought GBP/USD at 1.63583 and sold it at 1.64500.

How do I figure out the loss or gain in pips?

um…1.64500 - 1.63583 = 917 but…the fifth digit in platforms that have moved to it is a pipette, so it’d be 91.7 pips minus whatever spread you paid.

Thanks Virtecs. The 5th digit threw me off I guess. It doesn’t take much :o

nah that’s cool. I think its a relatively recent event so newer people don’t know about it.

that’s why these sites are made…to help people out :slight_smile: