Understanding pip or point value is essential in forex trading, as it plays a pivotal role in managing your risk and estimating your potential gains or losses. The value of a pip or a point isn't static; it changes depending on the currency pair, commodities, and indices you're trading. Below, you will find a comprehensive chart detailing the pip or point value for all forex instruments, calculated based on 1 standard lot size, to guide you through this essential aspect.
How do I calculate the potential profit or loss for my trades in FundedNext?
To determine the profit or loss for a particular currency pair, commodities and indices using the following formula:
These examples are designed to provide a clear understanding of how pip values or point values impact your trading outcomes. Remember, the key to successful trading lies not just in understanding these calculations but also in applying them effectively to your trading strategy.