Calculating the profit/loss that correspond to one pip value (problem with pairs with Yen as a quote like USDJPY)
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Hello,
I already opened a similar post on the subject but we got lost in a long conversion, so I preferred to open a new post so that the problem and the solution (if exists) remain clear.
Here is the problem:
I want to know the profit/loss corresponding of the movement of one pip (0.0001 for Forex pairs except for pairs with JPY, where it is 0.01) when I invest 20 euros with a leverage of 100.
Here is the solution for AUD / USD (it should be correct - given here: https://www.mql5.com/en/forum/429231):
Here is the solution for USD / JPY (I don't think it's correct):
As you can see, from this calculation, it appears that 1 pip movement on the USDJPY pair equates to a profit_or_loss of 19.58 euros, which is a lot!
I am almost certain there is something wrong in my calculation, but I cannot find out what.
Any idea ?
Thanks a lot
Aymeric
p.s: I am doing this effort of calculations because I think it's important but I am wondering if there is not a tool (online) that exists and do exactly this, so please tell me if you know one