Knowing a logic of profit calculation, we can easily calculate a cost of 1 point. 1 point means minimal change of price by instrument. For 5-digit symbols such it’s 0.00001, for 3-digit symbols it’s 0.001
1PointCostQuoteCurrency = Lots x ContractSize x MinChange
For example, let’s get cost of one point for USDJPY for 1.0 lot trade:
1PointCost (JPY) = 1 x 100,000 * 0.001 = 100
1 point cost for gold XAUUSD for 1.0 lot trade:
1PointCost(USD) = 1 x 100 * 0.001 = 0.1
Under “pip” they normally mean a change of price equal to 4-digit price or 2-digit price:
Pip XAUUSD = 0.0001
Pip USDJPY = 0.01
Thus, 1 pip cost of 1 lot trade will be 1,000 JPY for USDJPY 1 USD for XAUUSD.