Our Position size calculator is a free Forex tool that lets you calculate the size of the position in units and lots to accurately manage your risks. Likewise, it works with all major currency pairs and crosses. This tool requires only few input values. However, it allows you to tune it finely to your specific needs.
Proper position sizing is key to managing risks. Most importantly, the position size calculator can help avoid blowing out your account on a single trade and let you control your maximum risk. Proper position sizing and risk management is also often a key differentiator between amateurs and professionals in the world of trading.
Calculating the amount you can risk is very important if you follow a money management strategy. This is highly recommended every time you manually open a new Forex position. Position size calculation is also a first step to the organized Forex trading. In other words, it is a definite property of professional Forex traders.
All you need to do is follow the steps below and press the “Calculate” button.
- Choose the currency of the account that you are trading from.
- Select the currency pair that will be traded.
- The current size of your trading account.
- The percentage of the account you want to risk on the trade.
- And finally, enter the size of your stop loss in pips. (This is the amount of buffer you allow in the price movement of the pair you are currently trading).
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