"What’s the value of a 1 pip movement on EUR/USD, or any currency pair, in my local currency?"
This is a question that pops up all the time on the trading forums and various Forex websites. Understanding what a 1 pip (or point) move in a currency pair means for your account balance is crucial for every trader.
If you’re not clear on this, how can you effectively gauge your risk-to-reward ratio?!
With this straightforward calculator, you can easily determine the value of a 1 pip move for any currency pair in your base currency. You can use this tool as-is for quick calculations, or take advantage of the formula included to enhance your own trading systems and money management strategies. The code is open source, so feel free to tweak it to your liking!
Inputs:
You only need to input one thing: the lot size you plan to trade. Enter that, and the calculator will handle the rest automatically. We've designed it to work seamlessly with both standard (4-digit) and ECN (5-digit) brokers.
How to Use:
Just drag the calculator onto any chart, enter your lot size, and voilà! The values for that currency pair will pop up in the top left corner of your screen. Want to take it a step further? Go for it! Feel free to add text labels and customize it—make it your own!
NOTE: Version 1.02 was uploaded on 15-Feb-2015 to correct pip size.
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