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How to calculate your position size

80% of Trading Success Depend on The Mind
90% of Trading Profitability and Consistent Growth Depends on Correct Risk Management
Discus Risk and Money Management Options
tayct
Posts: 41
Joined: Fri Sep 02, 2011 2:14 am
10

How to calculate your position size

Unread post by tayct »

Hi Immy,

The ebooks talks about calculating position sizes. Does position size mean lot size?

There's mention of calculating position size using 15 pips (pg 30, extended ebook). What does that mean? How does "using 15 pips", "total risk", "10 pips SL", etc translate into position size or lot size?

Could some examples of the calculation be given please?

Maybe something like:

Position Size/Lot size = Balance/Equity(?) x %Risk + Spread(?) + using 15 pips(?)

The correct step by step formula would be useful for many of us who are just starting out.

Thank you.

User avatar
Mdock
Advanced Beginner 2
Advanced Beginner 2
Posts: 109
Joined: Tue Aug 16, 2011 8:45 am
10

Re: How to calculate your position size

Unread post by Mdock »

I use a lot calculator input stop loss and risk , output lot size.

My setting stop loss 150 (5 digit broker) risk 2%, but stop loss is other side of aims.
This is smaller most of the time just to be on the safe side i use 150 to calculate.
LotCalculator v1.rar
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Last edited by Mdock on Sat Sep 10, 2011 3:20 pm, edited 1 time in total.

tayct
Posts: 41
Joined: Fri Sep 02, 2011 2:14 am
10

Re: How to calculate your position size

Unread post by tayct »

Thanks so much Mdock!

Still looking forward to Immy to explain further this topic for the benefit of all members.

User avatar
immy
Founder
Founder
Posts: 8348
Joined: Mon Nov 22, 2010 4:46 pm
10

Re: How to calculate your position size

Unread post by immy »

Position Size can be calculated in many ways. I keep it simple. Trading 1 Lot, the value of 1 pip = 10$, Trading 0.1 Lot it is 1$/pip. You have to find the pip value then multiply by this, and that and then get the correct lot size. I dont do that. I trade from 0.1 - 2 Lots On a 10K account. So on 10K account 1% = $100. If you trade with lets say 10pip SL and risking 1% per trade, you require 1 Lot trade since pip value of 1 Lot = $10. so $10 / pip = 1% = 1Lot Trade for 10K A/C. There is an easy way.
Link 1. http://www.babypips.com/school/calculat ... sizes.html
Link 2. http://www.earnforex.com/position-size-calculator
Link 3. http://www.goforex.net/money-management-calculator.htm

Ps: To All Newbies: To Learn basics of Forex Trading Please use the links provided in the Links section of the forum.
Opportunity is Nowhere :nerd

tayct
Posts: 41
Joined: Fri Sep 02, 2011 2:14 am
10

Re: How to calculate your position size

Unread post by tayct »

Thanks Immy!

tmmbabs
Posts: 152
Joined: Sat Aug 13, 2011 1:05 pm
10

Re: How to calculate your position size

Unread post by tmmbabs »

Can someone please code a position sizing indicator for DAX which can be calculated in terms of percentage risk per point or pips. I search almost everywhere on the internet, even the almighty Google could not give me what i want.