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How to Calculate Pip Values A “pip” is the smallest increment in any currency pair.  In EURUSD, a movement from .8941 to .8942 is one pip, so a pip is .0001.  In USDJPY, a movement from 130.45 to 130.46 is one pip, so a pip is .01.  How much in dollars is this movement worth, for example, per 10,000 Euros in EURUSD?  How much is one pip worth per 10,000 Dollars in USDJPY?   We will refer to the size, in this case 10,000 units of the base currency, as the “Notional Amount”.   The formula for calculating a pip value is therefore:

(one pip, with proper decimal placement/currency exchange rate) x (Notional Amount)

Using USDJPY as an example, this yields:

  (.01/130.46) x USD10,000 = $0.77

  or 77 cents per pip

Using EURUSD as an example, we have:

  (.0001/.8942) x EUR10,000 = EUR 1.1183

But we want the pip value in USD, so we then must multiply EUR1.1183 x (EURUSD exchange rate):

  EUR 1.1183 x .8942 = $1.00

This is in fact a phenomenon you will see with any currency in which the currency is quoted first (such as EURUSD, GBPUSP, or AUDUSD): the pip value is always $1.00 per 10,000 currency units.  This is why pip (or “tick”) values in currency futures, where the currency is quoted first, are always fixed.

Approximate pip values for the major currencies are as follows, per 10,000 units of the base currency:

USD/JPY:   1 pip = $.77;  In other words a change from 130.45 to 130.46 is worth about $.77 per $10,000.

EUR/USD:  1 pip = $1.00;  .8941 to .8942 is worth $1.00 per 10,000 Euros.

GBP/USD:  1 pip = $1.00;  1.4765 to 1.4766 is worth $1.00 per 10,000 Pounds.

USD/CHF:  1 pip = $.59;  1.6855 to 1.6866 is worth $.59 per $10,000.

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As a new Forex trader, one of the most important things you will need to learn is how to figure out the value of a pip for any currency pair

. A pip is the smallest measure of value in a currency pair in Forex, so it’s critical that you understand this concept.

When someone is saying “30 pips,” they’re talking about thirty units of value in a trade. Both profits and losses are measured in pips, though a pip for USD/JPY is not the same value as a pip for USD/CAD.

The simplest way to put it is this: one pip is one unit of the smallest measured decimal place. For example, if you are trading USD/JPY at 114.95, then one pip is .01 Yen, since that is the smallest decimal place of measurement used in this pair. The JPY is measured in two decimal spaces, although almost all other currencies are measured in four decimal places.

This does vary, which is why you always want to check on each individual currency to figure out what the pips actually are. For example, if the USD/CAD is trading at 1.0621 CAD than a pip for this transaction is .0001 CAD.

If you trade AUD/USD while it’s at 1.2433, then one pip for this trade is .0001 since that combination has four decimal places, as well. See how that works? Like many parts of Forex trading, it is pretty easy once you get used to it.

So if the USD/JPY is quoted to only two decimal places, so Yen .01 is the value of this pip. If this pair goes from 114.95 to 115.00, it gained 5 pips. Likewise, if the USD/CAD goes from 1.0621 to 1.0611, it lost 10 pips. That simple math is all that’s needed at that point. So if USD/JPY went from 88.25 to 88.29 that would be a 4 pip increase.

On the other hand, if it went from 88.25 to 87.90, that would be a 35 pip loss. The math might seem a little daunting at first, but it really is just ordinary math an easy enough to pick up on.

As a side note: many non-Yen currencies are figured out four places, making many pips involving USD in the currency pair .0001, but just remember that a pip is one unit of the furthest listed decimal point and you’ll do fine. This also means that for each currency pair the pip can be a different value. You will want to keep track of this.http://www.articlesbase.com/currency-trading-articles/understanding-pips-in-forex-currency-trading-460455.html

PIP value calculator

http://www.forex-trading-software.com/stop-limit-orders.htm

Now’s a great time to be an online futures trader, and one reason is the ever-expanding selection of special orders that give you more convenience and control. In addition to all the conventional order types, more and more online futures brokers have begun to offer a wide range of advanced and contingent orders. Let’s look at a just a few of the special orders now available at various online futures brokers:One-Triggers-Others: Suppose you’ve identified a head-and-shoulders pattern in the crude oil market, and accordingly, you enter a limit order to go short at $62. You’re looking for an objective in the low-to-mid $50s, and you see strong resistance around $66. Accordingly, you place three trades, all on a single order entry screen you enter the primary limit order to sell at $62, a contingent limit order to take profits at $54, and a contingent stop order at $66 for protection. There’s no need for you to sit in front of your computer all day once the primary order’s been filled, both contingent orders will be activated automatically. Many trading platforms even allow you to specify that if either contingent order is executed, the other should be cancelled.Trailing Stops: You’ve done your homework, you know that oat futures can lead significant grain market rallies, and the solid upturn in oats futures might be an early clue that harvest lows are close at hand. You place a limit order to buy December oats at $1.64, a contingent limit order to take profits at $1.85, and a contingent trailing stop $.05 below the market, since a nickel is the most you’re willing to risk on this trade. If your primary order is executed, both contingents activate.Think of the market and the trailing stop as being linked by an imaginary chain. When the market moves in your favor, the chain tightens, and the trailing stop is dragged along automatically. When the market moves against you, however, slack builds in the chain, and the price on your trailing stop remains unchanged. This special order type allows you to profit from favorable movement in the market while having the protection of a stop order. And it frees you from having to constantly monitor the market and repetitively modify your stop order.Alert-Triggered-Orders: Some futures brokers have taken price alerts to the next level. Not only can you set up their trading systems to notify you by e-mail when an alert has been triggered you also can attach an order to your price alert, and when the market reaches your target, the order will be automatically activated. Here’s an example: Silver futures have been strong and are now trading around $7.84. But the 14-day RSI indicates seriously overbought conditions, and momentum appears to be fading. You feel that penetrating the $8.00 level will be difficult. Thus, you enter an Alert-Triggered-Order. If December silver futures reach $7.92, you’d like a market order to sell 10 December $8.25 call options to be automatically entered on your behalf.http://futuresblogs.blogspot.com/2005/11/who-knew-we-offered-so-man_113138929480366532.html