Direct answer: determine your “pips gained”
To know how many pips you’ve gained in forex, you calculate the pip-distance between your trade’s entry price and exit price for that same currency pair, then apply the direction of the move.
In practical terms, you need three things:
- the pair’s pip definition (what one pip means for that symbol),
- the entry and exit prices you actually traded,
- the direction (a rising price may be a gain for a buy, but a loss for a sell).
How it works (pips vs points and the core calculation)
“Pips” are a standardized way to describe price movement. Some platforms also report “points,” which usually represent a smaller unit than a pip.
Step 1: confirm the pip size for the instrument. A common general rule is:
- For many 4-decimal pairs, 1 pip is the change in the 4th decimal place (e.g., 1.2345 → 1.2346).
- For many 5-decimal pairs, the displayed quotes often include an extra decimal; in that case, 1 pip is often still 10 points (e.g., 1.23450 → 1.23460).
Because broker platforms can display quotes differently, you should confirm the pip definition in the instrument’s specification or the platform’s own pip/point documentation.
Step 2: compute the price movement. Take the difference in price between exit and entry.
- For a buy, pip movement = exit − entry.
- For a sell, pip movement = entry − exit.
Step 3: convert that movement to pips. Divide the price difference by the pip size for that symbol.
This yields the pip-distance (positive for a favorable move, negative for an unfavorable move). Many platforms will show pip-based metrics, but if you calculate it yourself you can reconcile differences caused by rounding.
Example checks you can run independently
Check A: single-leg pip distance (direction included). If your pair uses a pip size of 0.0001 and you buy from 1.2340 to 1.2360, the price change is 0.0002. Converting gives 0.0002 / 0.0001 = 2 pips gained.
Check B: ensure you didn’t mix pips and points. If your platform reports points and you treat 1 point as 1 pip, you can be off by a factor (commonly 10 for some 5-decimal quote formats). Always map “points → pips” using the instrument’s definition.
Check C: reconcile with platform profit units (when available). Some platforms compute profit from pip movement multiplied by a pip value per lot or position size. Even if you don’t need that for “pips gained,” it can help verify that your pip-distance matches the platform’s internal calculation.
Limitations, uncertainty, and what can change results
- Pip definitions vary by quoting format and instrument. Your broker may display decimals differently, and the mapping between pip and point can differ.
- Rounding and conversion steps affect reported pips. Some platforms round pip distances at intermediate steps.
- Spreads and execution details matter for the real outcome. Your “pips gained” from entry to exit reflects the executed prices you received, not a midpoint that you might see on a chart.
- No single number is universal across platforms. Two platforms can show different “pip” reporting if they use different rounding or display conventions.
If you want, share the currency pair, whether it was a buy or sell, and the entry/exit prices you used. Then the pip-distance can be calculated using the appropriate pip size rule (still without assuming any future outcome).