There are two ways you can calculate the value of a trade. The first is with the PIP calculator, so you can learn the value of a PIP. The second is with this Profit Calculator.
Using this calculator lets you select the pair, opening price, closing price and if you went long or short. (Buy or sold.)
You would then use the Trade Size field to input the lot size you chose for your trade. The calculator then shows you what the profit would be.
For example, if you were to trade GBP/JPY with an opening trade price of 1.0760, and a closing price of 1.1160, as a Buy (long) and a Trade Size of 100,000 (1 lot) you would have a profit of $36.36.
- Standard Lot (1) = 100,000 units
- Mini-Lot (.1) = 10,000 units
- Micro-Log (.01) = 1,000 units.