Hi all. Im slightly confused about the lot size position i traded today with the GBPUSD
Made a sell order using a 0.1 lot size. closed at 10 pips. thought i would have made a bit more than that and seems like its off by a decimal place…
Using IG uk as the broker if that helps. cheers
if you cant see the screenshot
GBPUSD(£), Sell 0.1
1.25399 – 1.25292 £1.07 profit
is this correct?
spread was 6 i think
leverage 1:200
Hi,
The Lot size you choose determines your pip value. You calculate your profit in pips. If your pip value is $0.1, then 100pip movement is $1. So find a trading calculator from your broker or other and find out what your pip value would be before placing your trade.