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TagsHow can I calculate pips with lot size for cryptocurrency trading?
Tobiasen HenningsenDec 28, 2021 · 3 years ago1 answersCan you explain how to calculate pips with lot size for cryptocurrency trading?
1 answers
- Calculating pips with lot size for cryptocurrency trading is essential for risk management. The formula to calculate pips is (Pip value) = (0.0001 / Exchange rate) * Lot size. For example, if you're trading ETH/USD with an exchange rate of 2000 and a lot size of 0.1, the pip value would be (0.0001 / 2000) * 0.1 = 0.00000005 ETH. It's important to note that different cryptocurrencies may have different decimal places, so always double-check the decimal places and the base currency of the cryptocurrency pair you're trading. Remember, proper risk management is key to successful trading!Dec 28, 2021 · 3 years ago
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