Position Size Calculator
Using the Position Size Calculator
The Forex position size calculator is an important tool that will help you quickly and efficiently work out the required trade size that you need to put on taking into account your trades parameters. The calculator will give you your results in both units and lots and depending on whether you entered in a dollar amount or a percentage it will also tell you how much money or percentage of your account you are going to be risking in the trade.
Account Currency: This is your account currency that your account is trading in.
Account Size: How much money you have in your trading account.
Risk Ratio or Money: There is a button on the right that you can hit to switch between risking either money or %.
Stop Loss in Pips: This is how big your stop loss is in pips.
Currency Pair: The currency pair you are trading.
Currency Price: This option won’t always show up, but when it does make sure that you enter the price that the calculator asks for and NOT the price of the pair you are trading.
Money or Risk Ratio %: This is either how much money or what percent of your account you are risking.
Units: This is how many units you need to enter your new trade to keep in-line with the amount you put into the calculator inputs.
Lots: This is how many lots you need to enter your new trade to keep in-line with the amount you put into the calculator inputs.
Make sure to always double check results and reference the.
I explain more in-depth about money management in the trading article here Forex Money Management That Actually Works how a position size calculator works and why it is so important in EVERY trading strategy!