Pip Calculator Forex and Why Would You Need One?

How can I understand the pip calculations in forex?

This is the first question you might have on your mind when you think of trading forex! This is absolutely the right question you need to have on your mind because without having a proper understanding of pip calculation, you will not be able to grow your forex trading account.
Before getting into the main topic calculator in forex, let’s have a brief discussion about pip and its value to have a good flow.

What is Pip in forex?

The full form of PIP is ‘percentage in point’. Pip in forex refers the unit of measurement which measures the small changes in value between two currencies in forex. 

What is Pip’s value in forex?

Forex Pip value refers to the price that is related to one pip movement in currency pairs. All currencies do not carry the same value of a pip, but most major trading currency pairs pip value is related to the four decimal places.

Besides, the pip value also depends on the lot size you are using per trade.For example, you have a currency trading pair GBPUSD, and the pips you have gained is 20, and the lot size you have is 0.01, so the pip value will be $2.

Why is Pip Calculation Important?

Pip calculator forex is important for online forex traders because it allows them to determine the potential risk and reward of a trade before executing it. For example, if a trader is buying 1 lot of EUR/USD with a stop loss order set at 10 pips below the entry price, they know that they will lose 10 pips per 1 lot of EUR/USD if the trade moves in the opposite direction.

SSF Pip Calculator Features

SureShotFX has launched a brand-new and unique SureShotFX pip calculator App offers a variety of features and benefits to traders, including:

• Instant and accurate pip calculations: 

The app uses advanced pip Forex calculation algorithms to provide traders with accurate and reliable results in real-time.

• User-friendly interface: 

The app has a clean and intuitive design that is easy to use for traders of all levels of experience.

• Account currency selection: 

Traders can select their account currency to ensure that the results are always accurate and relevant.

• Diverse forex pair options: 

The app offers a wide range of forex pairs to choose from, catering to the diverse trading preferences of traders.

• Real-time pips and money amount display: 

The app displays the pips amount and money amount in real-time, helping traders to make informed trading decisions.

• Error detection: 

The app features error detection, displaying a minus sign for incorrect inputs. This helps to ensure that traders always receive accurate results.

• Convenient buy/sell option: 

The app allows traders to indicate whether they are buying or selling the forex pair, which further enhances the convenience and accuracy of the calculations.

• Accessibility anytime, anywhere: 

The app is available on mobile devices, making it accessible to traders anytime, anywhere.

Key features of the SSF Pip Calculator include:

• Account currency selection between USD, GBP, and EUR.
• Diverse forex pair options like EUR/USD, GBP/JPY, AUD/CAD, and other existing currencies. 
• Input fields for stop-loss price, take profit price, and buy/sell.
• Real-time calculation button for instant results.

With these features and more, the SSF currency trading profit calculator aims to be an indispensable tool for forex traders of all skill levels.

Step-by-Step Guide to Mastering the SSF Pip Calculator

Using the SSF Pip Calculator is straightforward, but here is a step-by-step walkthrough:

• Upon launching the app, select your base account currency – USD, GBP, or EUR.
• Browse the forex pair list and tap your chosen pair like EUR/JPY or GBP/USD. 
• Input the price level where you plan on placing your stop loss.
• Input the price level where you intend to take profits.
• Tap the buy or sell button depending on your trade direction. 
• Finally, hit the calculate button to instantly see the pip difference and money amount.
• Make your trading decisions accordingly based on the risk-reward.

The SSF Pip Calculator app will display the following results:

• Pips amount: The number of pips between your stop loss price and take profit price.
• Money amount: The amount of money that you will gain or lose for each pip, based on your account currency and lot size.
• Clear visualization of gains or losses: The app uses a color-coding system to clearly indicate whether your trade is likely to result in a gain or loss. Green indicates a gain, while red indicates a loss.

Minus sign for incorrect inputs: If you enter an incorrect input, the app will display a minus sign to indicate that the calculation is not accurate.

The Benefits of Using the SSF Pip Calculator

From simplified trading to informed decisions, leveraging the SSF Pip Calculator offers numerous benefits:

• Get instant and accurate pip and monetary calculations in real time.
• User-friendly and intuitive mobile interface.
• Lightweight 30 MB app for convenient downloading.
• Customize based on your account currency (USD/GBP/EUR).
• Extensive forex pair options to match your assets.
• Clear display of pip difference and money amounts.
• Error detection with a minus sign for incorrect inputs. 
• Quick buy/sell option to evaluate both directions.
• Access pip insights anytime, anywhere through the mobile app.
• Make better trading decisions based on risk metrics.
• Rectify errors immediately thanks to the minus sign alert.
• Streamline your overall trading process using specialized calculations.

Why would you need one?

Pip calculator forex is one of the most important tools in forex trading. While trading in forex, if you use a forex calculator online, you will know about-

• Pips and profits that you are gaining or vice versa.
• Proper risk management that you are following
• Account growth that you are having

SureShotFX has launched a brand-new and unique SureShotFX pip calculator application where you will be able to calculate not only pip value but also you can calculate your Stop loss and Take profit pips. And guess what!! This application is totally free of cost!

How to use SureShotFX forex pip calculator profit?

It is very handy and useful. Watch the video to have a detailed idea of it. Link:

And that’s it! Drop your queries at ssfsupport on telegram.

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