How Do I Count Pips in MT4 for Mini Account Mini Lots?

How to Calculate Pips for a Mini Account

The tutorial below explaining 3 example of how to calculate pips in a Mini account when trading Mini lots and how to calculate profits and losses when trading Mini lots in Forex.

1 pip is the smallest currency pair movement used when trading forex currencies.

1 pip movement when trading Mini lots is equivalent to $1 dollars (10,000 units of currency * 0.0001 = $1 )

For Example if EURUSD moves from 1.1000 to 1.1001 this is equal to 1 pip - 1 pip is the 4th decimal place in the fx quote.

The profit or loss will be:

1.1001 - 1.1000 = 1 pip

1 pip* $1 per pip = $1

Therefore, 1 pip movement for Mini lot is equal to $1

If the trade moves in direction of the trade, the trader will make a profit of $10. If the trade moves against the direction of the trade, the trader will make a loss of $10.

Example 2: for Example if EURUSD moves from 1.1000 to 1.1050 this is equivalent to 50 pips - 1 pip is the fourth decimal point in the forex quote.

The profit or loss will be:

1.1050 - 1.1000 = 50 pips

50 pip* $1 per pip = $50

Therefore, 50 pips move for Mini lot is equal to $50

If the trade moves in direction of the trade, the trader will make a profit of $50. If the trade moves against the direction of the trade, the trader will make a loss of $50.

Example 3: for Example if EURUSD moves from 1.1000 to 1.1100 this is equivalent to 100 pips - 1 pip is the fourth decimal point in the forex quote.

The profit or loss will be:

1.1100 - 1.1000 = 100 pips

100 pip* $1 per pip = $100

Therefore, 100 pips move for Mini lot is equivalent to $100

If the trade moves in direction of the trade, the trader will make a profit of $100. If the trade moves against the direction of the trade, the trader will make a loss of $100.

How Do I Count Pips in MT4 for Mini Account Mini Lots.