USDNOK Pip Value Calculator - How to Calculate - Get Know Trading (2024)

The pip calculator in Forex represents aForex calculatorthat calculates the value of a pip in the currency you want by defining following values:

• number of pips
• lot size used
• currency pair
• deposit currency

Why do you need USDNOK pip value calculator?

You can calculate the value for a number of pips. And that means for example if you have 100 pips as a stop loss or take profit set, then you can calculate how much that will be in terms of a currency you select.

How to use USDNOK pip value calculator?

Inside the calculator you have several fields you need to fill with the data. And those are the number of pips, currency pair, deposit currency and lot size. At the end you click the button Calculate and you get the value of a pip.

In this article I will show you all details you need to know about USDNOK pip value calculator and what you can get with using it, why you should use it to speed up the process of calculating pip value and how to use it so you do not get confused when looking at pip calculator.

Read more: What is Pip Value Calculator

USDNOK Pip Value Calculator Example

The best way to explain how the USDNOK calculator works is to show an example. I will make a few examples so you can see the difference in calculations.

First example is when you have USDNOK currency pair with USD as a deposit currency:

• Number of pips: 1
• Instrument: USDNOK
• Lot size: 1.00 (100,000 units)
• Deposit currency: USD
• USDNOK pip size: 0.0001

Second example is when you have USDNOK currency pair with NOK as a deposit currency:

• Number of pips: 1
• Instrument: USDNOK
• Lot size: 1.00 (100,000 units)
• Deposit currency: NOK
• USDNOK pip size: 0.0001

How to Calculate Pips for USDNOK

To calculate pips for USDNOK you need to use following formula which defines the pip value:

For deposit currency which is equal to base currency, USD:

Pip value = (Pip / Current market price) x Lot size

For deposit currency which is equal to quote currency, NOK:

Pip value = Pip x lot size

USDNOK Pip Value

Now with the formula you have you need to use the first formula where the deposit currency is USD.

Pip Value for Base Currency

For deposit currency which is equal to base currency,USD, pip value will be equal to:

Pip value = (Pip / Current market price) x Lot size

Here are other data you need:

• Number of pips: 1
• Instrument: USDNOK = 10.4611
• Lot size: 1.00 (100,000 units)
• Deposit currency: USD
• USDNOK pip size: 0.0001

Now, when you put all the data in the formula you get:

Pip value = (Pip / Current market price) x Lot size

Pip value = (0.0001 / 10.4611) x 100,000

Pip value = (9.56e-6) x 100,000

Pip value = 0.956

Pip Value for Quote Currency

For deposit currency which is equal to quote currency,NOK, pip value will be equal to:

Pip value = Pip x Lot size

Here are other data you need:

• Number of pips: 1
• Instrument: USDNOK = 10.4611
• Lot size: 1.00 (100,000 units)
• Deposit currency: NOK
• USDNOK pip size: 0.0001

Now, when you put all the data in the formula you get:

Pip value = Pip x Lot size

Pip value = 0.0001 x 100,000

Pip value = 10,00

Pip Value for Third Currency

Third case is when you have a USDNOK currency pair, but the deposit currency is EUR. Which is not USD or NOK.

This case requires that you make more calculations. If you use the USDNOK calculator then the whole calculation is done by the pip calculator.

But, if you want to do it manually, then you need to use the following process.

First:

• decide in which currency you will calculate the pip value. Will that be USD or NOK

Let’s use USD. The formula for the pip value will be:

• Number of pips: 1
• Instrument: USDNOK = 10.4611
• Lot size: 1.00 (100,000 units)
• Deposit currency: USD
• USDNOK pip size: 0.0001

Pip value = (Pip / Current market price) x Lot size

Pip value = (0.0001 / 10.4611) x 100,000

Pip value = (9.56e-6) x 100,000

Pip value = 0.956

Second:

Now, you need to use the USD/EUR currency pair so you can extract USD pip value from it.

Current market price for the EUR/USD = 1.0929. We need to transform EURUSD to USDEUR and that is done to divide 1 with the EURUSD price.

Which gives us USD = 1 / 1.0929 = 0.915 USD.

So, the formula would be:

Pip value (EUR) = Pip value (EUR) x (USD/EUR)

Pip value (EUR) = 0.956 x 0.915

Pip value (EUR) = 0.875

How Do You Calculate USDNOK Pip Profits?

With the above calculated you can calculate USDNOK pip profit.

Let’s say you have an open SELL order on the market with the USDNOK = 10.4611.

And you want to close the trade at USDNOK 10.4611

The price difference in pips is:

Pips = |Entry price – Exit price|

Pips = |10.4611 – 10.4591|

Pips = 0.20

You can see the difference is 20 pips between open and close price.

Now, the profit for 20 pips is:

Profit = Pip value x Pips

Profit = 0.956 x 20

Profit = $19.12

If you want to use EUR as a deposit currency then the pip value is 0.875:

Profit = Pip value x Pips

Profit = 0.875 x 20

Profit = 17.5

Conclusion

If you are beginner in Forex trading you will need this calculator because the calculation manually is not so easy.

Even the Forex basics is not so easy to understand, but in time you learn everything.

Use this calculator and other calculators to see how much you will make per pip so you can set stop loss and take profit properly.

Disclaimer

Calculation`s made in the trading calculator are for informational purposes only. Whilst every effort is made to ensure the accuracy of this information, you should not rely upon it as being complete or up to date. Furthermore this information may be subject to change at any time.