Take advantage of our Position Size & Risk Calculator
This Forex calculator provides you with a position size in standard lots based on the variables that you enter. The account currency field will correspond to the currency which you use in your trading account. So if you are based in the U.S., this will likely be USD, whereas if you reside in the UK, you would choose GBP. This position size calculator is a free tool that allows you to calculate the size of the position in units and lots. This will be very helpful to manage your risks more wisely as you will be more informed. This calculator works with all major currencies. It requires the minimum input values, but allows you to customise it according to your specific needs. All you have to do is complete the form below and then press the Calculate button. Calculating the amount you can risk is very important if you follow a money management strategy. It is highly recommended that you do this every time you manually open a new Forex position. It will take up just a few seconds or minutes, but it could save you from losing money unnecessarily. Using a Position size calculator is also a good initial step to structured Forex trading, which in turn leads you to become a more professional Forex trader over time. It is also a good idea to use brokers with micro or lower minimum position sizes. Otherwise you might find it difficult to use the calculated value in actual trading orders. The effectiveness of a thorough position size calculation process is mentioned in many Forex books. Sizing a position is a good way to carry out your trading, but it also needs to be done by complementing it with the right stop-loss and take-profit levels.