Converting profit or loss

[Iqbal]

Hi, I am new to forex and have a few questions for the more experienced traders.

When trading currencies, in which currency is the profit or loss calculated in ?

For example, I live in the UK , If i traded usd/jpy and made 20 pip profit, in which currency would the profit be in?
How would i then convert it into british pounds ?, and do the brokers charge an extra spread for converting this into pounds?

Appreciate any replies.

 

[ptc]

if you are longing usd/jpy it will be in us dollars
if you are shorting usd/jpy it will be in yens
then it should be converted to your currency.

Your broker will be able to tell you what the pip
value for the currency you are trading is at any
particular time related to the currency you had
opened your account.

 

[Rhody Trader]

if you are longing usd/jpy it will be in us dollars
if you are shorting usd/jpy it will be in yens
then it should be converted to your currency.

If you are trading USD/JPY, it doesn't matter whether you are trading long or short. Either way you're trade is in terms of USD. The first pair listed is the currency in which p/l is calculated. That is the converted in to the account currency (if necessary).