02
How to use it
- 01
Enter the planned position size in lots.
- 02
Use the contract size from the broker specification; 100,000 units is common for one standard Forex lot.
- 03
Use 0.0001 for most pairs and 0.01 for pairs quoted in Japanese yen.
- 04
If the quote currency equals the account currency, enter 1. Otherwise enter the value of one unit of the quote currency in the account currency.
Worked example
For EUR/USD in a USD account, one standard lot, a 100,000-unit contract, a pip size of 0.0001 and conversion 1 produce a pip value of $10. For 0.10 lot, it is $1.
Risk note
Trading involves substantial risk. Educational content is not financial advice.