What is TradingFinder's Profit Calculator?
TradingFinder's Profit Calculator enables precise calculation of profit or loss in 2 directions [Buy, Sell] before entering a trade in the global Forex market.
This way, traders can plan their trades and, if needed, modify their order size to increase profits or reduce losses.
Guide to Using the Forex Profit Calculator Tool
Follow these steps to utilize the Forex calculator tool:
- Select the currency pair for your trading position;
- Choose your account base currency from among 20+ listed options;
- Enter the trade volume in lots. To calculate the amount of money you can use the TradingFinder Position size calculator tool;
- Specify the "Opening Price" (price at trade entry) and "Closing Price" (price at position exit);
- Select the trade direction (buy or sell);
- Click on the "Calculate" button to display the final profit/loss amount.
The "Reset" option clears all calculator fields.
How the Profit Calculator Works
This service calculates the result for users through the following formula:
Profit = (Closing Price - Opening Price) × Trade Size × Pip Value
The pip value is calculated as follows:
Pip Value = (Pip Size)/(Currency Pair Value) × Lot Size
Why Should We Use This Tool?
TradingFinder's Profit Calculator helps increase speed in the trade planning by predicting potential profit or loss from trades.
This service can also be used for setting TPs/SLs (Take Profit/Stop Loss) in positions. Additionally, Forex traders can use this tool to calculate the risk-reward ratio for a trade.