Different forex calculators will help you to generate pivot points for any given time period, find out the value of 1 pip in USD for any lot size and any major or cross currency pair, generate basic Fibonacci retracement values for any given trend, find out the risks and rewards associated with your possible position's targets and many more.
Position Size Calculator
Due to the fact that the specification of oil, gold, silver and other commodities vary from broker to broker, so via this form you can not calculate the size of their positions. We recommend using a special indicator for MetaTrader.
It is important to know how the right size of position is calculated, especially if you use a money management strategy. You should use this calculator every time when you are planning to open a new order in the Forex market. It does not take much time, and instead will allow you to avoid unexpected financial losses. Professional traders have long used this technique, it is one of the first steps on the path to successful and profitable trading in Forex.
Also this calculator is available as a free indicator for the MT4:
* Almost instant calculation, immediately after the installation;
* Intuitive and easy way to manage;
* It is calculated in the same program in which you manage your trade;
* It works without an Internet connection;
* It works even if RankCup.com website is temporarily unavailable.
To work with the indicator for MT is necessary:
* Download and install the MT4 / 5;
* Download and install the indicator;
* Understand the indicator settings by yourself.
We also advise to pay attention to our pip value calculator. With its help you can easily calculate the value of a pip for different pairs and for specific currencies of trading account.
The form does not calculate position size for oil, gold (XAU/USD), silver (XAG/USD), and other commodities as their contract specifications (namely, lot size) greatly differ among brokers. Please use a relevant MetaTrader indicator to assess position volumes for such assets (see below).
Calculating the amount you can risk is very important if you carefully follow a money management strategy. It’s recommend doing it every time you manually open a new Forex position. It will take a minute of your time, but will save you from losing money you do not want to lose. Position size calculation is also a first step to the organized Forex trading, which in its turn is a definite property of professional Forex traders.
Consider using brokers with micro or lower minimum position size. Otherwise you might find it difficult to use the calculated value in actual trading orders.
The importance of a thorough position size calculation process is stressed out in many influent Forex books. Sizing a position should be done in line with setting the right stop-loss and take-profit levels. It will be difficult to lose all the account's money if you control your risk and position size every time you strike a deal in the foreign exchange market.
This calculator is also available as a downloadable MetaTrader indicator. Advantages and disadvantages of MetaTrader version: