USD calculation by pips

Beginner Questions
1

Hi,

I am a FX trader (Beginner) and working (EURUSD platform). The Sell candle dropped from 0.98055 to 0.97948 and I lost the opportunity to close and also to take the profit. As I was confused about the action taking, I did nothing. So, my question is,

  1. How many pips there were that I lost?
  2. How can I calculate USD by following pips for both Sell and Buy?

Thanks,

2

A pip in non-JPY pair prices is the 4th decimal place. Therefore in this case the difference between the two prices is 10.7 pips.

But all pair prices comprise two quotations, the bid (sell) price and the ask (buy) price. Most charts display bid prices so you need to also account for the spread, the difference between the two quotes, bid and ask. It costs more to buy than to sell, so a losing position costs you the difference between the two chart prices plus the spread. Note also that spreads vary by the minute and this is not shown on your chart.

Maybe this answers your second question.

Spreads make a big difference when trading on short time-frames.

I don’t know what a Sell candle is.

3

I do appreciate for your prompt response, thanks. Please note;

  1. Order placed at 0.01 (cents). So, if the difference between the two prices is 10.7 pips, then please let me know the corresponding price in USD.
  2. The Sell candle is used for bidding (observed while market goes down). :slightly_smiling_face:
4

I’m not sure anyone can give a clear answer from what we can see.

5

Hi,

technically, you sell 1 micro lot, not cents. When you sold 1 micro lot 10.7 pips is equal $1,07. Regards Greg