Before you start trading FX, it is vital to understand how to calculate the outcome or profits/ losses. You can access forex calculators online and on several FX broker websites to quickly compute profits/losses before placing a trade or on your existing positions.
Here’s how you can calculate them manually-
P/L DIRECT CURRENCIES = (selling price- buying price) x contract size
P/L DIRECT CURRENCIES = (selling price- buying price) x tick value*
* tick value = lot size x tick size/current price
P/L CROSS CURRENCIES = P/L = (selling price- buying price) x tick value*
* tick value = lot size x tick size x base quote/current price
