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I was wondering a couple of things…
1 – I’ve attached the Pip (Lot) Cost Break down sheet for 28 Currency Pairs.
QUESTION: Do these Pip (Lot) Cost values ever change (fluctuate)?
2 – I trade multiple pairs and it is a chore to either hand write the conversions every few days for all 28 pairs based on an ever increasing, occasionally decreasing Account Balance. I do use an online Pip Value Calculator. But, even that takes more time than it should!
QUESTION: Does anyone know of, or possess an Excel Pip (Lot) Value Conversion Spreadsheet for all the 28 Pairs shown here? This type of Pip Value Spreadsheet would allow a Trader to simply input a few values such as overall Account Balance, and desired Pip Value to be traded for say the EURUSD pair as a the Excel formula basis. I say the EURUSD because the math is in nice round numbers (10 cent Micro Lot = .01 – $1.00 Mini Lot = .1 – $10.00 Standard Lot = 1). Then, based on that original EURUSD formula basis of say $1,600 overall Account Balance and Desired Pip Value to be traded of $3.00, the output on the Spreadsheet would show ‘.3’ in the EURUSD output column. More importantly, the Excel outputs would also conveniently display the actual Pip Value for the other 27 currencies from just that single EURUSD Excel formula input!
The Spreadsheet does not need to know the Pairs Current Price, Stop Loss Size, Trade Entry Price, Exit Target etc… I have seen these types of Spreadhsheets online and they are too labor intensive. I just need the actual Pip Value conversions themselves based on the criteria I listed earlier. I will then know whether or not to increase/decrease the actual Pip value being traded based on each trade setup and the Stop Loss size required. I do not need a calculator to figure those computations out.
Thanks for any help here. There is nothing more frustrating than seeing a Setup that requires a ‘market order’ and you hesitate for a few minutes because even though you know the Pip Value for your EURUSD trades based on simple math. You do not have the corresponding numbers for the other currencies and hope you are not over, or under valuing the trade. That is if Price hasn’t passed you by already as you fumble a few minutes with the Pip Values on your trading platform.