Calculate your exact profit or loss before entering a position and plan your trading plan accordingly. Using the forex profit calculator you can adjust your trade size or take profit and stop loss levels to increase or decrease potential gain or loss to match your trading plan.
How to use the calculator?
Complete the following fields:
- Currency pair – the currency you are trading
- Account currency – the deposit currency of your trading account
- Trade size – the trade size in lots or units
- Open price – the entry price of your trade
- Close price – the exit price of your trade
- Direction – either buy or sell (long or short).
The profit calculator takes the difference of entry and exit prices and multiplies it based on the pip value of your trade. The pip value calculation takes into account the currency pair, the lot size and your base currency (account currency).
Why is it important to use the calculator?
When planning your trade, it is important to understand the potential profit or loss of a trade. Our Forex profit loss calculator can be used as a take profit or stop loss calculator whether you’re actually using sl/tp values or closing the trade manually. If you wish to calculate your profit with a more advanced calculator to include the exact risk you wish to use, head over to our position size calculator.
How is profit calculated in forex trading?
Profit In foreign exchange is the difference between your open and close price. When trading forex, you can open a trade in 2 directions: buy (long) and sell (short). To make a profit with a buy trade, you need to buy a currency at a low price and sell at a higher price. To make a profit with a sell trade, you need to sell a currency at a high price and buy it back at a lower price.
For example, using our calculator as a gold profit calculator, if you buy 100 units (a standard lot of gold) of gold at $1890.00 and sell it at $1891.00, you would profit $100.