I am sure this is something you guys know only too well, but as a newcomer I would like to know whether I have got the right calculation?
The question is simply how do you calculate how much profit you have made on a trade?
Eg/. Entry at 1.5500, exit at 1.5750. 100 lots.
Is profit calculated as follows:
Amount per pip x amount of pips x # contracts x size of contract
(0.0001/1.5500) x 250 x 100 x 100,000 = $161,290
Thanks.
The question is simply how do you calculate how much profit you have made on a trade?
Eg/. Entry at 1.5500, exit at 1.5750. 100 lots.
Is profit calculated as follows:
Amount per pip x amount of pips x # contracts x size of contract
(0.0001/1.5500) x 250 x 100 x 100,000 = $161,290
Thanks.