How do you read the profit number on MetaTrader 4?

Beginner Questions
1

I just started demo trading now and have a few questions about MetaTrader 4.

I went long on USDCHF with a size of “0.1” and unfunfortunately, my fake trade has been losing :frowning:

Oh well, its just a demo. My question is, I don’t really know how to convert the profit number into an actual amount? It says my profit is “-1.66”

Is that 1.66 pips? Or dollars? or… what?

I recall reading in the school that the calculation is not that straight forward since I bought 0.1 lots, I think… I don’t think I leveraged, but I’m not sure (I didn’t see anything about leveraging when I made the buy… come to think about it, the order screen didn’t mention margin or leverage at all? Are those set elsewhere?)

Well as you can probably tell, I am a bit confused and don’t think I really know what I’m talking about. I recognize I am losing a fistful of fake pips and I don’t really know how to quantify it into how much actual cash I lost.

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2

Wait… what? You bought at .88006 and the price went down to .87858, so mathematically speaking you should be down 14.8 pips or $16.84 ((.0001/.87887)x10000x14.8).

Edit:
Unless of course you’re trading a miniaccount, which means that 0.10 lot = $1000 and 14.8 pips = $1.68.

3

0.1 lots on meta trader is equal to $1.00 per pip of price movment. So multiply your pip gain or loss by this amount to calculate your financial poistion.

4

there are some indis that show all that information on your chart before and while you are doing a trade