How do I calculate it? My broker says $1 per pip. I use 100:1 leverage. The currency moves up 5 pips. I gain $5? The currency loses 5 pips. I lose $5? Please explain.

From what you have written, you are using mini account, that is 1pip=$1dollar. If you were using a full account it would have been 1 pip = $10. Of course please note that it depends on the currency that you are trading as well.To receive %100 accurate and free FOREX buy/sell signals join our group:http://finance.groups.yahoo.com/group/freesignals/See our statement as proof.

The Price per pip depends on the currency you are trading and the position size you enter the market with. Here are a few examples that could be helpful:Trading the GBP/USD with a position size of 0.1 lots(1 mini-lot) you will be trading at $1 per pip. If you take a position size of 0.01 (1 micro lot) you will be trading at 10 cents a pip. And of course if you trade a position size of 1.0 (1 standard lot) you will be trading at $10 per pip. In contrast if you trade the USDJPY you will be trading 95 cents per pip using 1 mini lot. There is a formula to determine the price per pip for each currency but the easiest way is to google "pip calculator".As for leverage, the leverage on your account does NOT change the price per pip. The leverage determines the maximum exposure you can have. Meaning, at 100:1 the sum of all your positions currently open would be 10 times the allowable sum of all your positions at 10:1. It also means that at 100:1 you can hold positions in the market at about $100 for every $1 you have in your account (I say about $100 for every $1 because the every currency is different).

It depends all on the size of the account and which currency you are buying.

It doesn't depend on your leverage. Leverage is just the term for calculating how much margin is needed to open a position. The profit/loss per PIP is calculated by lot size. A mini account will usually trade 10,000 units in a lot. So you can calculate it by taking 10000X(exchange rate you open your position at) and take that and +/- 10000X(exchange rate you close your position at). This answer will be a certain value. Take this value and divide it buy the PIP movement and you can see the price per PIP. Example:So you make the trade: to buy 10000 EUR/USD at 1.5000 you pay 15000 dollars (10000 x 1.5000). ***Remember for 100:1(.01) leverage you will only need to have $150 as margin to open this position.*** As you expected, Euro strengthens to 1.5050. Now, to realize your profits, you sell 10000 EUR/USD at the current rate of 1.5050, and receive $15050.You bought 10000 Euros at 1.5000, paying $15000. Then you sold 10k Euros at 1.5050, receiving $15050. That's a difference of 50 pips, or in dollar terms ($15000-15050= $50).To calculate how much a PIP is worth for your mini account just take your Profit of $50 and divide it by the PIP movement(1.5050-1.5000) which is 50. Your amount per PIP is $1! The amount of profit or loss per PIP is related to your lot sizes. If you trade fractional lots like 5000 units or multiple lots like 30000 units the price per PIP will be different. Hope this helps you