USD Is the Quote Currency (Profit)
Currency pair. The default is the EUR/USD pair.
Position. Choose either “buy” or “sell.”
The default is “buy.”
Number of units. This is the individual number of units
and not the number of lots or mini-lots.
A full lot should be entered as “100000”
and a mini-lot as “10000.”
Entry price. This is the entry price regardless if
the trade was a market order or
a limit order. Include the decimal point.
Exit price. This is the liquidation price regardless
if the trade was manually exited or a
limit order was triggered.
Conversion rate. This entry is necessary to convert any
profit or loss to U.S.Dollars
if the quote currency is not USD.
(the second one in the pair)
In this example, USD is the quote currency.
In this example we bought a mini-lot (10,000 units) of the
EUR/USD pair at 1.2563 and sold at 1.2588, netting a clear
profit of 25 pips (price change times pip factor,
or 0.0025 x 10,000). The price change is simply:
Price Change = Exit Price - Entry Price
The pip factor is the number of pips in the monetary unit of quote
currency. There are 10,000 pips in one U.S. Dollar and,
conversely, a single pip equals $0.0001.
The pip factor is therefore 10,000.
Profit in Pips = Price Change x Pip Factor
When the quote currency is the USD, profit or loss is calculated very
Profit in USD = Price Change x Units Traded
.In our scenario, this equates to:
$25.00 = 0.0025 x 10,000