Bookmark this page, as you will need the position calculator before every trade you enter!
Simply fill out the account currency, account balance, and the percentage of risk. Also, fill out the stop loss in pips and which currency pair you will trade.
You will see the recommended standard lots and the cash risk, very handy features for any forex trader.
A risk calculator can help FX traders understand how much they need to have in their account before they start trading.
Position calculators provide insight into your potential profits or losses if you hold onto an open position.
These calculations are helpful because it tells you what size to use when trading currencies!
Be a responsible forex trader. Never risk more money than you can afford to lose.
You may also check out Babypips’ position calculator.