Pivot points are a go-to technical tool for traders interested in building unique support and resistance levels to use for market entry or exit. One of the greatest advantages to trading forex in the modern era is access to technology that aids in the application of indicators such as Pivot Points. While doing math longhand is a challenge, the Margin Calculator makes short work of even the most intricate positions. In addition, it is always a good idea to know where your account stands in relation to utilised margin and brokerage requirements. The Pip Calculator can help you do just that, automatically. Knowing how much your trade's pips are worth is key to not overextending your account. When it comes to risk management in forex trading, it's all about pip value. All you need is your account currency, pair, trade size and opening/closing prices-the Profit Calculator does the rest. Fortunately, figuring P&L doesn't have to be an exhaustive task. If you are an active forex trader, then producing positive returns is your job. With FXCM, you will always know your P&L, freeing up time for active trading. Factoring in expenses is also a routine task given FXCM's low spreads and Active Trader's pricing structures.Īt the end of the day, making money is the goal of any trader. As the market moves, your account balance is updated automatically via the functionality of your platform. Software suites such as Trading Station, Metatrader 4, ZuluTrade and NinjaTrader calculate gains and losses on a pip-by-pip basis. The best way to manage profit is through regularly referencing your trading platform. The beauty of forex trading is that quantifying profit is straightforward because expenses are limited, and gains and losses are easily accounted for. As it pertains to any business ― active trading or otherwise ― profit is the difference between gains and losses minus operating expenses.
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