How many lots should you trade? It depends on how much you accept to lose if the trade goes wrong. A lot is the size unit of a forex trade: 1 lot is 100,000 units of the first currency, and 0.01 lot is a common smallest size. A stop loss is the price where the trade closes by itself to limit the loss. A pip is the usual price step, 0.0001 on EURUSD and 0.01 on USDJPY. The calculator turns your risk and your stop into lots, so a stop-out costs what you decided and never more.
Where to open it
- From a trade: open the trade in Journal and press Position size in the The numbers panel. The trade's symbol, side, entry and stop are filled in for you.
- On its own: open Journal, and at the bottom of the trade list, under Also in Trades, open Calculators.
Use it
- Pick the Account. Its balance and currency are used.
- Type the Symbol, for example EURUSD, and pick Buy or Sell.
- Type the Entry price.
- Choose how you give the stop: Pips (Stop (pips)) or Price (Stop price), and type it.
- Choose how you give the risk: Risk (%) of the balance or Risk (money), and type it. A common choice is 1% or less per trade.
- No account linked? Type the Balance yourself, to risk a percent of it.
- Read the result: Lots, Money at risk, Stop distance, and the smallest size, the biggest size and the step your broker allows for this symbol.
When it will not give a number
- The stop is on the wrong side
- For a buy, the stop goes below the entry. For a sell, above it.
- No balance
- Type a balance or pick a linked account to risk a percent of it.
- No specification for the symbol
- We do not have this instrument yet. Nothing is guessed.
- Even the smallest lot risks more than you asked
- Widen the stop or raise the risk. The page tells you.
- Capped at the biggest lot
- The real risk is lower than you asked. The page says so.
The size is rounded down to the step your broker allows, so it never risks more than you asked. The numbers are a plan: spread (the gap between the buy and sell price), slippage and your broker's own rounding can change the real fill a little. The same maths is used by the order ticket on the desk. You do not need a broker session open to use it.
Did this answer your question?
Still need help
Write to support with your account email and what you see on screen. First reply within 48 h on Free, 24 h on Trader, 8 h on Pro, 4 h on Elite, 2 h on Desk.
Contact support