Help me calculate the pip value for this

Hi everyone!

I do know how to calculate the pip value at ordinary pairs like GBP/USD, USD/CAD, EUR/GBP but i have found a currency pair that i don't know how to calculate the pip value for.

The currency is Turkish Lira (TRY).

As for now i have allways used the following formula to calculate cross rates:
Lot size * tick size * base quote / current rate.

For Indirect rate:
lot size * tick size / current rate

But i'm not sure if i getting it right beacause when i calculate usd/try i get that every pip should be woth 12.57 USD. But when i enter a trade and take the amount i "lose" when opening a position. I.e the spread cost. I diviaded that amount with the spread in pips i get 7.95 usd.

I quite big different.

Another problem is that there is availible a pair called TRY/JPY and this currency pair i don't know at all how to calvulate into USD/pip.

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I would really appriciate some help about this matter... and i am intressted to know the pip value for the following currency pair:

TRY / JPY (Current pricelevel: 95.11)
USD / TRY (Current pricelevel: 1.2577)
GBP / TRY (Current pricelevel: 2.5625)
EUR / TRY (Current pricelevel: 1.7371)

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And please don't just calculate it for me... i really want to learn how to calculate it.
So... some kind of formula of how to calculate this right would just make my day.

Regards / JoLi

PS. To answer the question i think will come... No, there is no reason to trade this pair, and i don't trade it myself. I just found it at the platform i testing (www.migfx.ch) and became curious about this and started to calculate... i did not manage to calculate it and it makes me mad... just need to calculate it before i move on.... DS

What about this.....

The pip value is
Trade Amount * pip placement value = pip value in the secondary ccy eg TRY / ccy rate you want to see pip value in

So... In your examples above, if the ccy quote is ***/TRY and the quote is to 4 decimal places the pip value will always be TRY 10 (on a 100t trade) ....(you can then convert this amount to any other ccy you like to see the pip value in different ccys)

eg:
USD/TRY
100,000.00 * 0.0001 = 10 TRY per pip / (1.2577 $/Try rate) = $7.95 pip

GBP/TRY
100,000.00 * 0.0001 = 10 TRY per pip/(2.5625 Gbp/Try rate)= Gbp 3.90/pip..or..$7.95/pip etc

EUR/TRY
100,000.00 * 0.0001 = 10 TRY per pip/(1.7371 Eur/Try rate)= Eur 5.76/pip ..or...$7.95/pip etc



If the quote is TRY/*** then the pip value is still:
Trade Amount * pip placement value = pip value in the secondary ccy

eg:
TRY/JPY
100,000 * 0.01 = JPY 1000 per pip / ($/JPY rate 119.70) = $8.35 pip ..or.. gbp 4.10/pip etc

(The above is the same for any ***/JPY pair quoted to 2 decimal places.. eg Usd/Jpy...Nzd/Jpy...Cad/Jpy etc)



Cheers

BigFace.... I can not enough express my gratetud (don't know the speling) for your help.

If you were here i would have huged you

Well... thank you big time!

/ JoLi