Lot size calculator is free tool that use to calculate the position size to place trade. This tool helps trader’s to manage risk while trading in forex market. You need to enter variable input values to get best lot size to enter in trade.
It’s more important for you to know the best position size or trade size rather than your entry or exit point. You may have the best ever strategy for forex trading but if you enters in trade with too big position/lot size than your account may wipe out.
How to Use Position/Lot Size Calculator
Lot size calculator is give below you can find best position size to enter in trade with appropriate risk and good money management. Select currency type of your account, in next field enter your total account balance and in next field enter percentage risk that you can take as per your strategy. Now enter the number of pips for stop loss and in last field select currency pair you are trading with. Hit the ‘calculate’ button and you will get the results to enter in trade.
In this way you can use best lot size to enter in your trade.
Get Your Own Position Calculator
Here is an excel file give below that you can download and use to calculate position/lot size in easy way. There are three input variable to enter:
- Total Account Balance/Equity
- Percentage of Risk
- Total Pips For Stop Loss
And you will get best lot size to enter in trade according to your stop loss and account balance, it will also gives you value of expected value of loss in your currency.