A pip calculator will help a trader determine the value per pip for a currency pair, this is to manage position sizing and risk per trade.
A trader needs the currency your account is denominated in, the currency pair that is being traded, position size of the trade, and the exchange rate asked to calculate the pip value.
Click here to go to Pip Calculator.
Here is are some great Forex cheat sheets created by Austin Silver on how to how to calculate pips, the power of 15 pips, how to count Forex profits, and how to define lot size.
You can follow Austin Silver on Twitter and Instagram and check out his website at asfx.biz.
