Golang : Calculate a pip value and distance to target profit example

Below is an example on how to calculate a pip value from a given trade amount and exchange rate of EURGBP. Just for fun, it will also calculate the number of pips that it needs to gain in order to hit a profit target.

Here you go!

 package main

 import (


 func main() {

  oandaAccountID := ""
  oandaAPIKey := ""

  // set the NewConnection 3rd parameter to [false] to use DEMO account.
  // [true] for LIVE account

  UsingLIVEAccount := false // set false to use https://api-fxpractice.oanda.com
  oanda := goanda.NewConnection(oandaAccountID, oandaAPIKey, UsingLIVEAccount)

  currencyPair := "EUR_GBP"
  exchangeRate := GetPrice(oanda, currencyPair)

  // 5 decimal places except for yen which is 3 decimal places
  tradeAmountinEUR := 350000.00000
  numberOfGBPperPip := tradeAmountinEUR * 0.0001
  PipValue := numberOfGBPperPip / exchangeRate

  fmt.Println(currencyPair, " exchange rate is : ", exchangeRate)
  fmt.Println("Therefore a trade amount of : ", tradeAmountinEUR, "EUR ")
  fmt.Printf("Will give a PIP value of : [%0.2f] EUR per pip.\n", PipValue)

  // If we prefer to exit a position by hitting a target in EUR value instead of number of pips made
  // then let's
  // calculate how many pips we need in order to hit profit target of 200.00 EUR
  targetProfit := 200.00 // EUR
  pipsToGain := targetProfit / PipValue
  fmt.Println("In order to hit a profit of ", targetProfit, "EUR, this trade needs....")
  fmt.Printf("to gain : [%0.2f] pips \n", pipsToGain)

  // verify
  // PIP to price
  pipToPrice := pipsToGain * PipValue
  fmt.Println("Yup! Profit is :", pipToPrice, "EUR")

  // Exercise
  // Calculate how much is 1 pip worth in your home currency.
  // Let say your account home currency is USD, calculate the 1 pip
  // equivalent to USD.
  // Should be very simple! Good luck!


 func GetPrice(oanda *goanda.OandaConnection, cross string) float64 {
  instrument := cross
  priceResponse := oanda.GetInstrumentPrice(instrument)

  return priceResponse.Prices[0].Bids[0].Price

Example output:

EUR_GBP exchange rate is : 0.85146

Therefore a trade amount of : 350000 EUR

Will give a PIP value of : [41.11] EUR per pip.

In order to hit a profit of 200 EUR, this trade needs....

to gain : [4.87] pips

Yup! Profit is : 200 EUR

References :

PIP - Price Interest Point


  See also : Golang : Calculate pivot points for a cross

By Adam Ng(黃武俊)

IF you gain some knowledge or the information here solved your programming problem. Please consider donating to the less fortunate or some charities that you like. Apart from donation, planting trees, volunteering or reducing your carbon footprint will be great too.