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How to calculate profit and loss in forex trading
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[QUOTE="selena1, post: 308260, member: 97995"] Additionally, it's important to keep track of your overall trading performance over a period of time, rather than just focusing on individual trades. This can help you identify patterns and make adjustments to your trading strategy. To calculate your overall profit or loss, you can use the following formula: Profit/Loss = (Total Pips Gained/Lost * Pip Value * Trade Size) - Transaction Costs For example, if you have traded EUR/USD with a trade size of 10,000 units, and you have gained a total of 500 pips over a period of time, with a pip value of $1 and transaction costs of $50, your overall profit would be: Profit/Loss = (500 * $1 * 10,000) - $50 Profit/Loss = $4,950 Alternatively, if you have lost a total of 200 pips over the same period of time, with the same trade size, pip value, and transaction costs, your overall loss would be: Profit/Loss = (200 * $1 * 10,000) - $50 Profit/Loss = -$1,950 Remember to always practice responsible risk management and to never risk more than you can afford to lose in forex trading. [/QUOTE]
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