Position size calculator — a free Forex tool that lets you 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 only few 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:
The form does not calculate position size for oil, gold (XAU/USD), silver (XAG/USD), and other commodities as their contract specifications (namely, lot size) greatly differ among brokers. Please use a relevant MetaTrader indicator to assess position volumes for such assets (see below).
Calculating the amount you can risk is very important if you carefully follow a money management strategy. I recommend doing it every time you manually open a new Forex position. It will take a minute of your time, but will save you from losing money you do not want to lose. Position size calculation is also a first step to the organized Forex trading, which in its turn is a definite property of professional Forex traders.
Consider using brokers with micro or lower minimum position size. Otherwise you might find it difficult to use the calculated value in actual trading orders.
The importance of a thorough position size calculation process 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. It will be difficult to lose all the account's money if you control your risk and position size every time you strike a deal in the foreign exchange market.
This calculator is also available as a downloadable MetaTrader indicator. The advantages of MetaTrader version:
The disadvantages of MetaTrader version:
You might also find our pip value calculator useful. It can help you to find the value of the pip for various currency pairs and for the nonstandard account currencies.