Traders calculate profit and loss resulting from their trading activities in pips. This is explained by the price volatility in the market. That being said, you need to know the pip value in USD in order to manage risks. Use Pip Value Calculator to calculate Forex trade automatically.
Simply enter the currency pair, traded volume in lots, as well as the current market quote of the pair. Press the Calculate button, and the Calculator will instantly display the pip value per given trade.
Before opening a position, you need to choose the lot size and set a stop loss order. Use Forex Risk Calculator to do this. Find out what account balance you need to have in order to open the desired position, and calculate the percentage of risk per order.
How do you choose a trading volume? Where should you place a stop order? What account balance is needed in order to open a desired position? What is the percentage of risk per trade? You can get the answers to the above questions thanks to the Lot Calculator.
The Calculator will help you to calculate the margin and the percentage of potential profit or loss per trade. Choose the type of the trading account, relevant currency pair, leverage, trade (Sell or Buy), opening and closing prices. If you make calculation regarding cross currency pair (quote that does not include the U.S. dollar e.g. AUD/CAD), fill in the Current Price column manually. The Calculator will display the value of the collateral per trade, and how much you can make or lose.