I tried to use the pip calculator to see how many pips I should trade but it gives no example on how to fill boxes in so I cannot get it to work.
10000 size 100-1 2%risk
the boxes are confusing, does not show how to fill them in such as ratio or %
thx
[B]ahelsel,[/B]
If you are asking about the Pip Calculator (Pip Calculator: Free Online Forex Pips Calculation Tool for Traders) in the [B]Tools[/B] section of this website, it’s a little bit tricky. You have to type in the position size in just the right way.
[B]Type the number of units of the base currency, without placing a comma in the number.[/B] For example…
If you are trading single micro-lots, type in 1000 (do not type 1,000).
If you are trading 5 micro-lots, type in 5000.
If you are trading single mini-lots, type in 10000.
If you are trading 3 mini-lots, type in 30000.
If you are trading single standard lots, type in 100000.
When you do it this way, the Calculator will show you the value of 1 pip for this position size.
For example, if your account is in US dollars, and you are trading 6 micro-lots of the EUR/USD, then you will leave the top two boxes the way they are, and in the third box you will type 6000. Then click Calculate, and the Calculator will show you the figure 0.6, which means that each pip is worth 0.6 USD, or 60 cents.
As a second example, let’s say that your account is funded in British pounds, and you are trading 6 micro-lots of the USD/CHF. Then you would place GBP in the first box, USD/CHF in the second box, and type 6000 in the third box.
But, now there is a fourth box for you to fill in, because you have designated a currency pair which does NOT have the USD as the cross-currency. Now you have to find the current price of the GBP/CHF from your trading platform, so that the Calculator can convert Swiss francs to British pounds.
Let’s say the current price is 1.8010. You type that in the fourth box (including the decimal point), and click Calculate. Now the Calculator shows you the figure 0.33314… That means that 1 pip is worth 0.333 GBP in this trade.
I hope that answers your question.
Clint