The formula
For pairs quoted in USD on a USD account (EUR/USD, GBP/USD, AUD/USD) there is nothing to convert: one pip on a standard lot is $10.
A worked example
Three standard lots, three different pip values. If you size USD/JPY as if it paid $10 a pip, a 30 pip stop risks $200 when you thought it was $300, and the opposite error on USD/CHF risks more than planned.
Common mistakes
- Counting pipettes as pips. A move from 1.08500 to 1.08550 is 5 pips, not 50.
- Assuming $10 everywhere. Only true for USD-quoted pairs on a USD account.
- Using "pips" on gold and indices. Brokers define these differently. Work in price points and the contract size instead.
How the RB journal tracks it
The built-in position size calculator works out pip value, including JPY pairs, and the lot size that fits your risk. Trades synced from MT4, MT5 and cTrader carry their real lot size and P&L, so pips and R are calculated from what actually happened.
See your own Pip from real trades
Log trades by hand, import a file, or live-sync MT4, MT5 and cTrader through the RBSync EA. The numbers on this page then come from your own history instead of examples.
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