How do I calculate pips

generally if you account base currency is USD, generally the pip value is $10. You can find various calculators with brokers to calculate it

In most forex pairs pips indicated by the 4th decimal place - so, 0.0001 means 1 pip. From this, 0,0031 means 31 pips, 0.331 means 331 pips and 0.3331 means 3,331 pips.

In JPY pairs, 1 pip is indicated by the second decimal place, so 0.01 is 1 pip.

@perryjohn765 sorry to butt-in but you forgot to add (for @Aiiso’s sake) generally the pip value is $10 **per position of 1 standard lot**

Number of pips= (Closing Price-Opening Price)/Pip size

where pip size depends on the trading instrument being traded

For most currencies=0.0001

JPY pairs=0.01 Gold=0.1 or 0.01 (depending on the broker you’re using)

pip is the 2nd to last decimal in the price

so you may retrieve the pip size by simply looking at the price of the instrument being traded

(For example USOIL=68.41–>pip size=0.1 …second to last decimal)

(Gold=1798.800–>pip size=0.01 …second to last decimal)

Hope it’s clear

myfxbook has a lot of very good calculators

Movement in the exchange rate is measured by pips. Since most currency pairs are quoted to a maximum of four decimal places, the smallest change for these pairs is 1 pip. The value of a pip can be calculated by dividing 1/10,000 or 0.0001 by the exchange rate