Position Size Calculator
Position size calculator — free Forex tool that lets you to calculate the size of the position in units and lots to accurately manage your risks. It works with all major currency pairs and crosses. It requires the minimum input values, but allows you to tune it finely to your specific needs. All you need to do is to fill the form below and press the "Calculate" button:
Calculating the amount you can risk is very important if you carefully follow money management strategy. I advise using it every time you manually open a new Forex position. It will take a minute of your time, but it will also save you from losing money you don't want to lose. Position size calculation is also a first step to the organized Forex trading, which in its turn is definite property of the professional Forex trader.
Importance of the thorough position size calculation is stressed out in many influent Forex books. Sizing a position should be done in line with setting the right stop-loss and take-profit levels. And it's hard to lose all the account's money if you manage risk and position size every time you enter the Forex market.
This calculator is also available as a downloadable MetaTrader indicator. The advantages of MetaTrader version:
- Very fast calculation once set up.
- Easy to use with mouse-drag interface.
- Position size calculated in the same software that is used for trading.
- Automatic reference pair bid/ask prices retrieval.
- Will work for you even when you are offline.
- Calculate position size even if EarnForex.com is temporarily offline.
The disadvantages of MetaTrader version:
- Have to install MetaTrader (4 or 5).
- Have to download and install the indicator.
- Isn't as intuitive as this calculator's form.
- Have to add more currency pairs to Market Watch window of MetaTrader.
- Calculation for non-standard trading instruments can be buggy.
You might also find our pip value calculator useful. It can help you to find the value of the pip for different currency pairs and for the nonstandard account currencies.
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