Profit calculating

Beginner Questions
1

Hello guys im brand new in this forum and im currently getting into forex,

my question is the following:

How to calculate the Profit in this case here ?

EUR/GBP

Type:sell

size: 0,1

price open : 0.86288

Price close: 0.85986

S/L: 0.86278

T/P: 0.85550

Commission: -0.90

Profit: 42.66 ??? this is the profit which is on the balance sheet

No tax /U no swap in the transaction sheet

when i calculate like this is the result :

0,1 lot = 10000units x 0.86288 = 8628.8

10000units x 0.85986 = 8598.6

8628.8 - 8598.6 = 30.2 dollar ??

did i do something wrong in my calculation

thank you very much

cheers

2

Hi there!
You’re trading EUR/GBP which means that the P/L which you made will be in the quote currency (in this case GBP) so your answer 30.2 is correct but that’s in GBP and not in USD
So you have to convert 30.2GBP to USD based on the exchange rate at that moment

1 Like
3

thank you very much !

1 Like
4

You just have to do a little bit of conversion from your quoted currency to the currency in which you want to see the amount. That is where all your calculation is going wrong. Just convert your amount in other currency and then check the results.

5

The actual calculation of profit and loss in a position is quite straightforward. To calculate the P&L of a position, what you need is the position size and the number of pips the price has moved.
The actual profit or loss will be equal to the position size multiplied by the pip movement.