Pip calculator
What one pip is worth on your position, what a move made or cost you, and how many lots fit your risk and your stop. Majors, crosses, gold and silver, in dollars.
One standard lot is 100,000 units. A pip is 0.0001 on this pair. Dollar account.
- Pip value, 1 standard lot
- $10.00
- Mini lot (0.10)
- $1.000
- Micro lot (0.01)
- $0.100
- Units
- 100,000
Import your MT4 or MT5 statement into Actal and every trade is checked against your max lot size, daily loss limit and cooldown after a loss.
Journal for free →How pip value works
A pip is the fourth decimal on most pairs (0.0001) and the second on yen pairs (0.01). Its value is the pip size times how many units you hold, in the pair's second currency. If that currency is the dollar, you're done. If not, you convert it at today's price.
lot size = risk ÷ (stop in pips × pip value of 1 lot)
Example: EURUSD, 0.50 lots. 0.0001 × 50,000 = $5 a pip. A 30 pip move is $150. On USDJPY at 147 the same 0.50 lots is 500 yen a pip, which is about $3.40.
For sizing, the stop comes first. Put it where the idea is wrong, then work out the lots. With $100 of risk and a 25 pip stop on EURUSD that's 0.40 lots. Always round down.
Pip values per lot
In a dollar account. Pairs that aren't quoted in dollars use the price shown, so they move a little with the market.
| Pair | Pip size | Standard (1.00) | Mini (0.10) | Micro (0.01) | At price |
|---|---|---|---|---|---|
| EURUSD | 0.0001 | $10.00 | $1.00 | $0.10 | any |
| GBPUSD | 0.0001 | $10.00 | $1.00 | $0.10 | any |
| USDJPY | 0.01 | $6.803 | $0.68 | $0.068 | USD/JPY 147 |
| USDCHF | 0.0001 | $12.50 | $1.25 | $0.125 | USD/CHF 0.8 |
| USDCAD | 0.0001 | $7.246 | $0.725 | $0.072 | USD/CAD 1.38 |
| AUDUSD | 0.0001 | $10.00 | $1.00 | $0.10 | any |
| EURJPY | 0.01 | $6.803 | $0.68 | $0.068 | USD/JPY 147 |
| GBPJPY | 0.01 | $6.803 | $0.68 | $0.068 | USD/JPY 147 |
| EURGBP | 0.0001 | $13.50 | $1.35 | $0.135 | GBP/USD 1.35 |
| XAUUSD | 0.1 | $10.00 | $1.00 | $0.10 | any |
Gold at 100 oz a lot and a pip of 0.10, the most common MetaTrader setup. Check your broker's contract specification.
Sizing mistakes that cost the most
- Picking the lot size first and the stop second. The stop goes where the idea is wrong, then the lots follow.
- Using the same lots on every pair. 1.00 lot on GBPJPY and 1.00 lot on EURGBP are different amounts of risk.
- Treating gold like a currency pair. $10 a pip per lot sounds the same, but gold can move several hundred pips in a day.
- Adding lots after a loss to win it back. That one ends more accounts than anything else.
- Forgetting swap on trades held overnight, and the spread on tight stops.
Knowing your size is the easy part. Keeping it after three losers is the hard part. That's what a forex trading journal is for: every trade checked against your max lot size and your daily loss limit, and the ones that broke it added up. If you trade futures too, there's a futures position size calculator.
Questions people ask
Drop your MT4 or MT5 statement into Actal. Every trade comes in with its swap and commission and is checked against your rules. Free during beta, no card.
Made by Joakim Jusell, trader and coach at Jusell Trading Academy.