Before you dive into trading, it is best if you know what a pip is and how to calculate it. Price Interest Point or PIP is a unit for measuring changes in exchange rates between two currencies. Pips can be calculated manually or by using an automatic counter. FXTM, which is always present and offers a variety of conveniences, has provided an automatic pip value calculator that can make it easier for you. Because with the right calculations, you can find out what kind of information you will get and how to deal with that risk. Aside from that, you can go to http://www.vixbrokers.com/minimumdeposit/fxtm.html if you want to know more about FXTM.
Here’s a quick and easy way to use the pip calculation tool in FXTM:
1. Write the number of pips in the ‘pip amount’ column
2. Select the currency pair you want to trade in the ‘currency pair’ column
3. Write the number of lots that you will trade in the ‘trade size (lots)’ column
4. Select the currency you want to display the resulting pip value in the ‘deposit currency’ column
After you have entered all the required conditions, you can immediately find out the pip value quickly.
On the other hand, the risk is an integral part of forex trading. Therefore, there are many things you need to know and learn before trading. Profits and losses are normal things in the world of trading, but of course, your main goal of trading is to get as much profit as possible. To minimize the risk of loss and increase the profitability of FXTM, as the best broker, provides tools that will assist you in trading. FXTM provides a simple tool called the Profit Calculator which will help you determine the outcome of a trade and decide whether the position is profitable or not.
How the profit calculator works in FXTM:
In just 4 easy steps, the Profit Calculator will help you decide the profit or loss of a trade
1. Select the currency pair you wish to trade
2. Select a position, whether you want to sell or buy
3. Determine the opening and closing prices
4. Select the currency for which you want to see results