how can i calculate profit and loss in terms of pips
Simple @inofx, The difference between your entry price and your exit price is your profit or loss in pips.
Say you bought EUR/USD at 1.2345 and sold it at 1.2355, then your profit in pips will be:
EXIT PRICE - ENTRY PRICE = 1.2355 - 1.2345 = -0.0010 = 10 PIPS
Your profit therefore on this trade is 10pips
Assuming it was a losing trade and you actually sold the EUR/USD at 1.2335 after buying at 1.2345, then the exit price is now lower than you entry price when you bought the currency pair, your loss will therefore become:
EXIT PRICE - ENTRY PRICE = 1.2335 - 1.2345 = 0.0010 = -10 PIPS
I hope that helps 
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You should check out What is a Pip in Forex? on the Babypips School of Pipsology for much more details on that.
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thanks
Perfect explanation