This calculator is designed to give traders the number of units (individual units of base currency) and lot size (in terms of Standard Lots) to trade, given a particular risk profile.
1) Account Currency: Choose the currency that your trading account is denominated in.
2) Account Equity: Enter the total equity of your account.
(This is used to calculate the amount risked based on your per-trade risk percentage. If your trading style involves using a nominal amount that may not equal the actual equity or balance in your account, enter that here instead.)
3) % Risk per Trade: Enter the percentage of your equity to be risked in each trade.
(For example: If your strategy involves risking a flat 2% on each trade, enter "2" here. This figure is used with Account Equity to calculate the size of the trade.)
4) Risk Reward: Enter the fraction or multiple of currency that you want to risk per amount targeted.
(For example: If you choose to risk $0.50 for every $1.00 targeted, aka. 2-to-1 reward-to-risk, then enter "0.5" here.)
5) Currency Pair: Enter the currency pair you intend to trade.
(This is only used to determine the quote currency in relation to your account currency to adjust for differences.)
6) Known Price:
If you have a target price and entry price, choose Target.
OR: If you have a stop loss and entry, choose Stop.
7) Entry Price: Enter the entry price of the trade.
8) Target Price: Enter the target price of the trade, if known. (Choose Target for Known Price above.)
9) Stop Price: Enter the stop price of the trade, if known. (Choose Stop for Known Price above.)
Click the Calculate button.
While this calculator was designed for trading styles using fixed stop and target ratios and prices, you can use it to calculate an initial size for trailed stop or other longer term positions by simply setting Known Price to Stop and ignoring the risk reward and target values. The trade size would work out to the same.
This trade size calculator uses live aggregated prices from Integral's TrueFX institutional currency feed in order to determine quote currency and account currency values.