﻿ How to conver Pips to percent gained/lost? - Beginner ...

# How to conver Pips to percent gained/lost? - Beginner ...

• How to conver Pips to percent gained/lost? - Beginner ...
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I am using the baby pip position size calculator, but my lot size is always out by ~0.2 +- of a lot I am not sure if it is a rounding error on their end or something worse
The online calculator is: http://www.babypips.com/tools/forex-calculators/positionsize.php
My formula is: (account denomination is AUD)
equity = 10000
risk = 0.03 (or 3%)
standardLotSize = 100000
1. tick size may change if JPY (but here I am not using JPY)
tickSize = 0.0001
2. Account Denomination
accountDenomination = 'AUD'
3. Currency Pair
currencyPair = NZDUSD
4. Cross pair
crossCurrency = USD
5. Currency cost for accountDenomination/Cross
accountCross = AUDUSD
6. Cost for account cross (accountCurrencyCost)
AUDUSD = ~0.77
7. risk in dollars in account denomination form
riskDollar = equity*risk
8. convert this risk to risk of base currency
riskDollarCounterCurrency = riskDollar*accountCurrencyCost
= 300*0.77
9. Stop loss in pips
stopLossPips = 6
10. Risk per pip in cross currency form
crossRiskPerPip = riskDollarCounterCurrency/stopLossPips
11. Calculate how many units to buy
units = crossRiskPerPip/tickSize
12. Calculate how many lots to buy
lotSize = units/100000
What am I missing here????
submitted by peachesxxxx to Forex [link] [comments]