What does a pip cost you in real money?

This is the question to answer before your first live trade: one pip on your planned position size, in your account currency. Not knowing it means you're sizing positions blind.

Post your working:

• account currency and pair
• position size
• pip value you calculated

Then check it against the method in what is a pip and how to calculate pip value. Wrong answers are welcome — that's what the thread is for.