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

Tags :

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 (
"fmt"

"github.com/awoldes/goanda"
)

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
PipValue := numberOfGBPperPip / exchangeRate

fmt.Println(currencyPair, " exchange rate is : ", exchangeRate)
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