Hi, it is an important question for new traders in forex market. Actually you don’t need a website or online calculator to see the value of lot size in terms of USD.
If your currency is US dollars, here is a simple relation which you can compare to know the value of lot size.
1 standard lot size means, 1 pip = $10 and similarly,
0.10 lot size means, 1 pip = $1
These calculations are based when your leverage is 1:500.
You can use this link to calculate on website as well, https://www.fxpro.co.uk/trading/calculators/all-in-one
In the case of profit monetary equivalent, simply find the distance between your take profit price and entry price and multiply this difference by the lot size value to get the exact monetary equivalent of profit. Similarly for stop loss, you can use the same approach to know how much you are risking.
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