The Forex Calculator - Fast Position Sizing
What is position sizing? Knowing how large a trade you should put on to maximize your profit for that trade, while never risking more than you feel comfortable with. The Calculator gives you this precise number for your position size in standard lots, mini lots, micro lots, units or amount per pip - whichever setting you have chosen for each particular broker you work with.
This tab of the Calculator is ideal for traders who want to get into a trade FAST - just enter the number of pips to your stop and your correct position size is immediately shown. Your correct position size is automatically calculated by factoring in stop distance, pip value, current equity and your own risk profile.
Want to plan out a pending order? Simply enter the values that you actually see and behind the scenes, the Calculator will determine whether your entry is on the bid or ask, and give you the correct price for you to place your orders on your broker's platform.
Determine buy and sell setups together or independently – great for strategies such as straddling a channel or a consolidation band breakout trading system.
Plan the stop loss and the take profit based on a key technical level you see or a fixed number of pips.
If you use a fixed number of pips for a stop loss or take profit, the Calculator tells you what that value will look like, taking bid and ask into account. If you use a price level to set your stop loss or take profit, the Calculator switches to tell you how many pips away that value is.
Set a buffer value for how many pips beyond a visible entry point you wish to enter. For example, your trading style may be that you want to see price cross a resistance level by 5 pips before entering – simply enter 5 in the drop down menu for your "Pad Between Entry & Key Level" at the top of the tab, then enter the exact price of your resistance level. The Calculator will add or subtract that buffer, add or subtract the spread on the side that needs it, and give you the right price to input into your broker's platform when placing your order. A separate buffer value can be set for a stop loss pad too.
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