To manage risk more effectively, it is important to know the pip value of each position in the currency of your trading account.
The TNXTrade Pip Calculator does this for you. All you have to do is enter your position details, including the instrument you are trading, the trade size and your account currency. Click ‘Calculate’ and the Pip Calculator will determine how much each pip is worth.
Trading 1 lot of EUR/USD with an account denominated in EUR
Trading 1 lot (100 Oz) of GOLD with an account denominated in USD
0.01 * 100 = 1
Each tick is worth $1