How do I calculate the P/L (profit or loss) per trade?

In order to calculate the P/L (profit or loss) per trade, please use the below example as a guide.

Example Trade

• Contract Size (in lots):0.20 lots
• Trading Instrument: EURGBP
• EURGBP OpenPrice: 0.7123
• EURGBP ClosePrice: 0.6992(0.7123 – 0.6992 = 0.0131 = 131 pips) 
• Contract Size (in EUR): 20,000 EUR
• GBPUSD Rate: 2.0128 (to convert the profits/losses from GBP to USD)

Calculation:

• Profit/Loss = (20,000 × 0.7123) – (20,000 × 0.6992) = 14246 – 13984 = 262 GBP.

1. Now we’ll convert to USD: 262 GBP × 2.0128 = 527.35 USD.

So, the position earned 527.35 USD in profits.