What this calculator does
Most trading plans are written in pips: "stop 35 pips below entry, target 70 pips above." Your trading platform, however, needs exact prices. This stop loss take profit calculator converts pip distances into the precise stop loss (SL) and take profit (TP) levels for buy and sell orders, and shows what each level is worth for your position size.
It is useful when placing orders quickly, when setting pending orders in advance, and when you trade instruments where the pip size is not the usual 0.0001, such as JPY pairs, oil and gold.
The formula
Buy: SL = Entry − (SL pips × Pip size)
TP = Entry + (TP pips × Pip size)
Sell: SL = Entry + (SL pips × Pip size)
TP = Entry − (TP pips × Pip size)
Pip size: 0.0001 most forex | 0.01 JPY pairs | 0.01 oil | 0.10 gold
For a buy, the stop is below entry and the target above. For a sell, it is the reverse. Getting this backwards is a common source of orders being rejected or filled at the wrong level.
Worked example 1: selling US crude oil
You plan to sell 0.5 lot of USOIL at 72.40, with a 60 pip stop and a 120 pip target. On oil CFDs, one pip is $0.01, and 1 lot is usually 1,000 barrels.
- SL: 72.40 + (60 × 0.01) = 73.00
- TP: 72.40 − (120 × 0.01) = 71.20
- Value of the stop: 0.5 × 1,000 × $0.60 = $300
- Value of the target: 0.5 × 1,000 × $1.20 = $600
Some brokers use 100 barrels per lot on oil. In that case the same prices apply, but the money values are ten times smaller. Check your broker's contract specification.
Worked example 2: buying EURJPY
You buy 0.3 lot of EURJPY at 162.350 with a 35 pip stop and a 70 pip target. For JPY pairs, the pip size is 0.01.
- SL: 162.350 − (35 × 0.01) = 162.000
- TP: 162.350 + (70 × 0.01) = 163.050
- Pip value: 0.3 × 100,000 × 0.01 = 300 JPY, which at USDJPY 150 is $2 per pip
- Risk at SL: 35 × $2 = $70; reward at TP: 70 × $2 = $140
Both examples have a 1:2 structure, with the stop half the distance of the target.
How to use this calculator
- Select the instrument so the correct pip size is used.
- Choose buy or sell.
- Enter the entry price (current market price or your pending order price).
- Enter the stop loss distance and take profit distance in pips.
- Optionally enter lot size and account currency to see the money value of each level.
- Copy the SL and TP prices into your order ticket.
Where to place stops and targets
The calculator handles the arithmetic; the distances come from your analysis. Common approaches include:
- Structure-based stops. Beyond a recent swing high or low, where the idea would be invalidated.
- Volatility-based stops. A multiple of the Average True Range (ATR), so the stop reflects how much the market normally moves.
- Fixed distances. Simple and consistent, but they ignore market conditions.
Targets are often set at the next support or resistance level, or as a multiple of the stop. Whatever method you use, check the resulting ratio with the risk reward calculator.
Spread and order execution
Remember that buy positions open at the ask and close at the bid, while sells open at the bid and close at the ask. A sell stop is triggered when the ask reaches your SL, so a widening spread, common around news and the daily rollover, can trigger stops before the chart's bid price touches them. Leaving a small buffer beyond obvious levels helps.
Brokers may also set a minimum distance between the current price and your SL or TP, called the stop level. If your order is rejected, check this setting in the symbol specification.
From levels to position size
Once you know the stop distance in pips, you can work out how many lots to trade so the stop costs a set share of your account. The position size calculator does this directly. To see the full money result at your target, use the profit calculator.
Frequently asked questions
How do I set a stop loss 20 pips away on EURUSD?
Multiply 20 by the pip size 0.0001 to get 0.0020. For a buy at 1.0850 the stop is 1.0830; for a sell at 1.0850 it is 1.0870.
What is a pip on oil?
On most oil CFDs one pip is $0.01. A move from 72.40 to 73.00 is 60 pips. On a 1,000 barrel lot, each pip is worth $10.
Is the stop loss above or below entry on a sell?
Above. A sell loses money when price rises, so the stop goes above entry and the target goes below.
Why was my stop loss hit when price didn't reach it on the chart?
Charts usually show the bid price. Sell positions close at the ask, so the stop can trigger when the ask reaches it, especially when spreads widen.
Can I enter SL and TP in points instead of pips?
On 5-digit forex quotes, 10 points equal 1 pip. Divide points by 10 before entering them, or set the calculator to the unit your platform uses.
Closing note
Exact SL and TP prices remove guesswork when you place orders. Calculate them every time, especially when switching between forex, JPY pairs and commodities.
Trading leveraged products carries a high risk of loss. Results are estimates; check your broker's contract specifications.