Profit / Loss calculating currency business

An Exchange declared that how much money you get against another. Suppose EURO/USD exchange rate is at the  moment 1.3242 /1.3245 after one day later the price up and shows 1.3272/1.3275 so if you brought Euro ago  that rate then you got profit 1.3272-1.3242=30 and if your lot size is  one mini lot (worth 1 $/per point/pips ) then your profit 30*1$ = 30$ - broker spread 3$ = total 27 $...when you buy or sell your broker deduct his  spread from your account deposit after you close a trade.

Now question what is lot  and pip...........

 

Have you ever seen a price quote if so then you might see that there are 4 or 5 digits after decimal like this 1.3245 to 1.32458 but for Japan Yen you also see 2 or 3 digits after decimal like this 184.25 or 184.254. So last digit is called pip or pipettes or point. When you found 4 digits after decimal then last  digit is pip and if 5 digits then last is pipettes. In the above example you profit 30 pips ( 1.3272-1.3242=30). You may also call pip as point. So clear 1 pip is 0.0001 points and  in case of JPY then it is 0.01

In Forex market you trade a specific amount this is called lot.

1 Standard lot = 100,000 units 

1 Mini lot = 10000 units

1 Micro lot = 1000 units

Now let us assume pip value 1 standard lot:

If USD is the base currency

Suppose USD/Jpy quoted as 117.80 then ( 0.01/117.80) * 100,000 = 8.48$ per pip

If USD is not the base currency

Suppose GBP/USD exchange rate is 1.5240 then ( 0.0001/ 1.5240) *100, 00 = 6.56 * 1.5240 = 9.99 $ around $10 worth.

So therefore 1 Standard lot  per pip value is $10

1 mini lot  per pip value is $1