Hotforex pip Value question.

**babushkafx** · 11-19-2014, 06:24 PM

Guys,

I am going to trade on gold with Hotforex. Can you explain how to define pip value in for XAU/USD pair? There is average spread of 29 pips so how what will be entry cost for 1.0 lot position?

Thanks in advance..

**shade** · 11-20-2014, 05:14 AM

Originally Posted by babushkafx

Guys,

I am going to trade on gold with Hotforex. Can you explain how to define pip value in for XAU/USD pair? There is average spread of 29 pips so how what will be entry cost for 1.0 lot position?

Thanks in advance..

here's a pip calculator, just scroll down the bottom page. http://www.armadamarkets.com/fx-calculator/
and entry cost for 1 lot position never related to pair's spread, it would be confused new trader if you put it that way.
for example
on your broker spread 29 at xau/usd pair
other broker charge 10 pip spread same pair
use same lot 1.0, would entry cost then ?
it depend on what leverage used, not spread cost.

**bulalakaw** · 11-21-2014, 06:54 AM

here mate, a pip value calculator by hotforex, and there are other pip calculators in the android store or apple store if you own a smart phone.

https://www.hotforex.com/en/forex-we...alculator.html

**number1** · 11-21-2014, 08:17 AM

Originally Posted by babushkafx

Guys,

I am going to trade on gold with Hotforex. Can you explain how to define pip value in for XAU/USD pair? There is average spread of 29 pips so how what will be entry cost for 1.0 lot position?

Thanks in advance..

the minimum deposit is $500 and to trade 1.0 lot you should have greater than 1:100 leverage. Assume you're trading with 1:100, 1.0 lot = 1000$ is the entry cost and each pip move can +/- you $10,

Take an exmaple, your entry price is 1200.00 and the price move 1200.10, you get +/- $10

Hope this helps

**babushkafx** · 12-10-2014, 09:45 AM

Originally Posted by number1

the minimum deposit is $500 and to trade 1.0 lot you should have greater than 1:100 leverage. Assume you're trading with 1:100, 1.0 lot = 1000$ is the entry cost and each pip move can +/- you $10,

Take an exmaple, your entry price is 1200.00 and the price move 1200.10, you get +/- $10

Hope this helps

Oh I got it. Pip value is calculated by the 1 unit of quote currency, in case of XAU/USD quote currency is USD, 1 unit (0.0001) from standard lot is 10 USD. Thank you for your help guys, really appreciate it.

**number1** · 12-11-2014, 08:47 AM

You're welcome, also, some brokers offer the pip calculator then you can use it to figure out it.

**babushkafx** · 12-16-2014, 04:28 PM

Yeah, quite useful tool. But seems its pretty simple to calculate it mentally, moreover I am trying to enhance my brain work for trading benefits. Using your own logic and math capabilities will efficiently contribute in creating your own trading systems. My recent innovation is Hotforex based ultra scalping strategy with elements of grid trading. I'm going to share it soon..

**bulalakaw** · 12-19-2014, 06:38 AM

I think most broker have their own pip calculaor and other calculators can be found online. use google its easy. and there are apps on apple store and play store as well.

**number1** · 12-23-2014, 07:21 AM

One more good way to calculate pip is using a demo account with same conditions you expected. I have tried it and figured out how to calculate pips.

**babushkafx** · 05-12-2015, 02:51 PM

Originally Posted by number1

One more good way to calculate pip is using a demo account with same conditions you expected. I have tried it and figured out how to calculate pips.

Yeah I often use Hotforex demo to check required margin to open certain position, test account with mixed position of limit and stop orders. Demo is excellent tool for trading calculations.