The easiest way to calculate your gains and losses using pips and lots is with the pip value itself. For instance, let's say you are using a mini account where 1 pip equals $1. If your chosen pair sees a 6 pip price shift you know this is the equivalent of $6. The same goes if you are trading a standard lot, although every 1 pip is the same as $10 - so 3 pips is $30.