Profit calculator helps you to determine your performance in the market. When trading, market conditions can easily distract you. To prevent this, you must keep your eyes on your individual trades. Therefore, you should constantly monitor the profitability or otherwise of your positions.
This you can do by measuring the losses or gains on them using a profit calculator.
As a Forex trader, you would experience both winning and losing trades. However, you can use the Forex profit calculator to monitor your profitability. The calculator uses the difference in the open and close price and the position size. Also, it requires the currency rate, the number of days for which the position was on and the swap rate. Usually, the calculator expresses the result as a percentage, the profit calculator percentage.
The forex profit calculator works as follows:
Profit in Account Currency = ((close price – open price) * Position size / (or *) Currency rate) ± (swap in account currency value *period)