Do you really need to know the value per pip if you calculate your position size with a online position size calculator
No, you don’t need to know that metric in order to determine the correct position size.
But, your Position Size Calculator needs to know it. — That’s why the Calculator asks you for the price of your account currency versus your quote currency.
Example: Let’s say your account is denominated in USD, and you want to trade the GBP/JPY.
Before the Calculator can do its job, it needs to know the current price of USD/JPY — that is, the current price of your account currency in terms of the quote currency in your pair — in order to convert yen-pips into dollar-pips.
When the Calculator has that info, it can equate x-number of pips times the dollar-value of those pips to the risk amount (in dollars) which you have specified.
Without a Position Size Calculator, you would have to do all that by hand.
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Ok thank you