Pip Calculator question

the pip calculator - 'The Pip Calculator will help you calculate the pip value in different account types (standard, mini, micro) based on your trade size.'

My question - the 'Trade Size' we enter - is that entered in pips, or dollars? Does not give units

Thx

Hello,
The trade size you enter is the amount of the first currency of given FX pair. In the last column, you have the pip value calculated in USD value. For example:
AUD/CAD - if you enter 100,000 units (you will trade 100,000 AUD against CAD and each pip will cast you 7.48755 USD (with current exchange rate).
I hope this will help.

BaldoN posted:
Hello,
The trade size you enter is the amount of the first currency of given FX pair. In the last column, you have the pip value calculated in USD value. For example:
AUD/CAD - if you enter 100,000 units (you will trade 100,000 AUD against CAD and each pip will cast you 7.48755 USD (with current exchange rate).
I hope this will help.

Well said! When I was a novice trader then I also didn’t know this type of technical answer! Whatever, I use all of my trading targets according to the pips target, like right now my daily trading target is 65 pips; I seem traders need to set their trading targets with pips measurement, they shouldn’t use $ calculation in this case!

It is depends from the way of your trade style, time frames, desired targets and risk.
Targets could be set under many different trading conditions. For example: around technical levels, based on indicator, based on percent of equity, or percent of balance, or fixed amount as money or pips and more. :)