| Lot Size | Units | Value Per Pip | Value Of Your Pips |
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A pip is the standard smallest move a currency pair is quoted in. For most pairs that is the fourth decimal place, so 0.0001. For pairs quoted in Japanese yen it is the second decimal place, so 0.01. Gold and silver move in their own increments, which is why the calculator sets these for you.
A pip is worth more when you trade more units. A standard lot of 100,000 units on a pair quoted in dollars makes one pip worth about 10 dollars, a mini lot makes it 1 dollar, and a micro lot 10 cents. The pip does not change, your exposure does.
If the second currency in the pair is not the dollar, the pip is earned in that currency and has to be converted. This is why yen and cross pairs need a current rate to give a dollar figure, and why a fixed number would be wrong.
A pip is the smallest standard price increment a currency pair is quoted in, and it is how traders measure profit, loss and stop distance. For most pairs one pip is 0.0001, the fourth decimal place. For pairs quoted in Japanese yen one pip is 0.01, the second decimal place.
It depends on your trade size and the pair. On a pair quoted in dollars such as EUR/USD, one pip is worth 10 dollars on a standard lot of 100,000 units, 1 dollar on a mini lot and 10 cents on a micro lot. On pairs not quoted in dollars the value has to be converted at the current rate.
Because the pip is earned in yen, not dollars. One pip on a standard lot of USD/JPY is 1,000 yen, and what that is worth in dollars depends on the current USD/JPY rate. Any calculator that reports a fixed dollar figure for yen pairs without a rate is giving you the wrong number.
A pip is the fourth decimal place on most pairs. A point, sometimes called a pipette, is the fifth decimal place, so one tenth of a pip. Many brokers quote five decimals, which means the last digit is a point rather than a pip.
Work out what you are willing to lose in cash, then divide it by your stop distance in pips to get the value per pip you can afford. From there you can find the lot size that matches. Our position size calculator does that step for you.
Yes, gold and silver are included with common contract sizes. Metals vary more between brokers than currency pairs do, so check the contract size against your own account and adjust the field if it differs.
Yes. It is free with no sign up, it runs entirely in your browser, and results update as you type. Nothing you enter is sent anywhere.
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