How to calculate P/L?
Apr 19, 2015 at 06:38
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Apr 19, 2015 at 06:38
OK: Trying to get an estimate of an EA-s profitability.
So, as an approximation, I will take a (good) medium day on eurusd...
Fri, Mar 6, 2015. Hi 1.1028, Low 1.0839; day's range=0.0189 (to 4 decimals)
investing 0.0015 lot= $15. for the day; High minus Low
So, day's profit calculation is (approximately) lot size x #pips; or 0.0015x189=0.2835
What is this in dollars? Would I make about $28?
Please help.
Thank you.
So, as an approximation, I will take a (good) medium day on eurusd...
Fri, Mar 6, 2015. Hi 1.1028, Low 1.0839; day's range=0.0189 (to 4 decimals)
investing 0.0015 lot= $15. for the day; High minus Low
So, day's profit calculation is (approximately) lot size x #pips; or 0.0015x189=0.2835
What is this in dollars? Would I make about $28?
Please help.
Thank you.
Apr 20, 2015 at 06:38
it's good to know the value of 1 pip. In this case, assuming your account is in USD, $1. So yes, it's $28. But, this will not be the case with non US currencies. There is a good article explaining this on investopedia: https://www.investopedia.com/ask/answers/06/pipandcurrencypair.asp
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