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.
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
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