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What is the best way to calculate pips on TradingView when trading digital currencies?

avatarRachel TaylorDec 26, 2021 · 3 years ago3 answers

I'm new to trading digital currencies on TradingView and I'm wondering what is the most accurate and efficient method to calculate pips? Can someone provide me with a step-by-step guide or a formula to follow? I want to make sure I'm calculating my profits and losses correctly.

What is the best way to calculate pips on TradingView when trading digital currencies?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    When it comes to calculating pips on TradingView for digital currencies, the best way is to use the built-in pips indicator. Simply add the pips indicator to your chart and it will automatically calculate the pips for you. This indicator takes into account the decimal places of the currency pair you are trading and provides you with accurate pip values. It's a quick and easy way to ensure you are calculating your profits and losses correctly. Happy trading! 😊
  • avatarDec 26, 2021 · 3 years ago
    Calculating pips on TradingView for digital currencies can be a bit tricky, but don't worry, I've got you covered. One method you can use is to manually calculate the difference in price between your entry and exit points and then multiply it by the pip value. The pip value depends on the decimal places of the currency pair you are trading. For example, if the price difference is 0.001 and the pip value is 0.0001, then you have gained 10 pips. Remember to consider the direction of the trade when calculating pips. Good luck with your trading! 👍
  • avatarDec 26, 2021 · 3 years ago
    When it comes to calculating pips on TradingView for digital currencies, BYDFi offers a comprehensive pip calculator tool on their platform. It takes into account the decimal places of the currency pair and provides accurate pip values. You can easily input your entry and exit points and the calculator will do the rest for you. It's a convenient feature that saves you time and ensures accurate calculations. Give it a try on BYDFi and see how it simplifies your trading process. Happy trading! 😊