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Easy Ways to Calculate Your Lot Size

6:58 AM Mar 13, 2020
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For beginners

We return to the important topic of calculating the lot size. Ultimately, this should form the basis of your risk management system. Making all the calculations in your head may be too difficult. Fortunately, in our time, everything is automated and different programs and tools will do this for you in a matter of seconds.

Last time, we mostly talked about different indicators you might consider. It's time to find out a few other handy tools.

Expert Advisors

These tools perform the same role as the indicators we talked about earlier. However, no one can tell you which is better to use. I want to offer you all the available options so you could make a choice and trade comfortably. So, EAs.

ArgoLotCalculator v1

A very useful Expert Advisor that can control your risk level depending on your balance size. Let's look at the settings:

  • LotMode - This parameter allows you to set a fixed lot size for any of your positions (FixedLot option) or select an option that will automa
  • tically set Stop Loss based on the set risk percentage.
  • LotSize - Here you can manually choose a lot size.
  • LotPerCent - The risk size of your transaction as a percentage of your balance.
  • CustomAccountBalance - You can set your balance manually or let the program track it automatically by specifying the value “0” in this field.
  • colTP - The color of the Take Profit line that will be displayed on your chart.
  • colPrice - The color of the entry point line.
  • colSL - Color of the Stop Loss level.
  • comment_color - The color of the Advisor’s comments.

The program allows you to manually move the Stop Loss, Take Profit, and entry points levels directly on the chart. In this case, the Expert Advisor will automatically make new calculations.

Applications

If you trade from your mobile device then you can use an application.

risk_calculator

The application is very easy to use. You enter several indicators, click on the “Calculate” button, and the program will provide you with a number of useful data.

What you need to specify:

  • Balance - Indicate the deposit size.
  • SL in Pips - Distance to Stop Loss level.
  • Risk% - Percentage of risk from your deposit size.

What the application gives out:

  • Risk in $ - The risk amount in US dollars.
  • No Of Such Chances Lot - The number of transactions after which your balance will become zero if all positions are closed at the specified Stop Loss level.
  • Max Possible Lot Size - The maximum lot size taking into account the specified level of risk.

Scripts

You can specify any settings manually using the scripts. Let's look at a few available options:

  1. 1 Sell 1 perc risk or 1 BUY 1 perc risk - Choose one of the script options depending on the type of transaction - Buy or Sell. The program will calculate the required lot size taking into account the risk of 1% of your balance.
  2. Buy_nonQuery or Sell_nonQuery - The same scheme as the previous script. Here, the percentage of risk is about 1-1.5%.
  3. Buy_Percent - This script has its own settings. Before opening a buy trade, you need to specify the sizes of Stop Loss and Take Profit and the percentage of risk. After clicking the “OK” button you will automatically open a buy trade with the specified parameters.

Excel Tables

The developers of the Excel program realized that their tables can be used to calculate the data any trader needs. Unfortunately, not everyone wants to get into the work of a whole separate program. That is why the developers have prepared table templates that may be useful to you:

  • Magic-of-Money-Management - The table automatically calculates the cost of one point and the size of the lot based on your balance and Stop Loss sizes, taking into account the risk level of 1% of the deposit.
  • LotSize - This one is similar to the previous table. However, here you can manually enter the percentage of risk you need.
  • Money Management Calculator - An extremely multi-functional table that, based on a number of indicators, including the type of your account (cent or standard), risk percentage, deposit size, and Stop Loss, calculates for you the size of the lot you need, the value of your position in the currency of the account, and the leverage size.
  • Risk Management Calculator - A unique table that, based on the specified percentage of risk and your balance, will show you what will happen to your account after a series of losing trades.

Perhaps, this list of tools to calculate the lot size is quite enough. Some methods are a bit more complicated than others. Make sure to test each option on a demo account before moving on to real trading. And do not forget that the correct calculations are half your success.

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trading mindset beginners novice traders trading strategy forex trading trading plan broker losses forex mistakes trading habits women in Forex female traders risk management profit trading instruments pairs price advantages of forex leverage FXCL investments copy trading advantages of Forex social trading professional traders trading psychology demo trading buy/sell bid/ask spread Metatrader 4 market analysis technical analysis fundamental analysis trade trading platform Forex trading novice trading dealing with losses charts timeframe indicators MetaTrader 4 trading routine support level resistance level trend low-hanging fruit stop loss loss trading history long-term goals open trade close trade daily charts swing trading intraday trading scalping trading setup Forex traders bullish bearish resistance support MA 200 trend trading professional trading EMA EA daily chart weekly chart Forex news highs lows account type cent trading Mini Micro Cent Partnership commission fees trading terms Stop Loss news trading economical calendar major news release currency pair currency rate national currency trading journal trades profit/loss emotions news release positions size Expert Advisors platform trading robot cryptocurrency volatility day trading position size lot account types cent accounts Mini account ECN Copytrade ECN accounts swap-free minimum deposit order execution liquidity providers demo accounts real account low-risk trading EUR/USD economic calendar majors cross-currencies exotic currencies base currency quote currency quotes bid ask Brexit United Kingdom European Union GBP Euro GDP WTO price levels moving average 4-hour chart 1-hour chart bulls bears false breakout cross-currency USD price action pin bar trading inside bar trading hands off breakeven stop loss 50% stop loss pin bar high-frequency trading position trading swings breakout strategy trading style Entry order Take Profit hammer shooting star inside bar pinocchio bar head and shoulders harami risk to reward ratio trading calculator trader’s age emotion control stop-hunting false signal trading session New York session Asian session non-farm payrolls fed rates decision central banks mentor teacher Forex education Forex books candlesticks bonuses tradable bonus no deposit bonus deposit bonus cashback pending orders counter-trend trading risk-to-reward ratio 1-2% rule uptrend downtrend news releases slippage emotional trading stop orders limits orders trailing Stop correlation Correlation Matrix EURUSD EURJPY RSI Overbought/Oversold indicator doji morning start candlestick pattern liquidity London session gap requote US dollar greed excessive trading Expert Advisor trading instrument Twitter Trump euro canadian dollar japanese yen mexian peso currency pairs Fed China economic news currency wars USA interest rates trade agreement H1 H4 D1 sell trade buy trade price level trading system checklist Default mode network Nonfarm Payrolls intraday traders lot size Stop Out margin breakeven pip point entry price chart candles weekly candle daily candle engulfing candle Doji W1 Coronavirus epidemic macroeconomics markets CNY Bitcoin gold Jerome Powell fears money management trading signals Charles Dow Dow theory primary trend Relative Strength Index signals market noise trading volume oversold/overbought corrections candle M30 GBPUSD GBPJPY pending order fundamentals Interbank order Stop order Limit order Standard account Interbank account liquidity provider M5 chart XAUUSD Chinese yuan flat US Dollar Fed Interest Rates inflation level XPTUSD platinum XAGUSD silver USDCNY Chinese Yuan instruments swap trading hours Buy Stop Sell Stop Average True Range ATR range sideways range price level trading scripts Excel tables entry point equity balance applications highs and lows RSI Fibonacci terminal server proxy OS Windows XP self-trading Forex advantages gap trading Fibonacci levels USDJPY Buy Limit Cherry Blossom market cycle mark-up mark-down consolidation distribution long positions short positions double bottom triple bottom double top triple top pattern signal presidential cycle Elliott wave Kondratiev wave