To use position size calculator in forex is so easy. You just need to know what you need
You don’t have to worry carrying a calculator everywhere you go because you don’t want to mess up on your position size.
Simply search online, you will access the position size calculator any time with ease.
Also, you can access the position size calculator here at freeforexcoach.com any time.
Just go to tools and select position size calculator.
To use position size calculator in forex, On the calculator enter;
 The currency pair you want to trade
 Your account size
 Stop loss in pips
 And finally the percentage of your account you wish to risk.
Then hit the calculate button.
Below is an example of the position size calculator.
The position sizing calculator will suggest position sizes basing on the information you provide.
But to properly use this calculator you will need to understand risk reward and position sizing
Alternatively, you can calculate the position size using a formula below.
How do you calculate position size using a formula
Position size = (Account size ×% risk per trade)/ (stop loss in pips × pip value)
For any trade, you need to first determine how much you want to risk per trade and the stop loss in pips.
Also, the pip value of the currency pair.
Then substitute in the above formula to get the position size for your trade.
Assume you have a $10,000 account and risk 1% of your account on each trade. Your risk is $100.
If you take a trade on the EUR/USD, buying at 1.22375 and place a stop loss at 1.22066.
This results in 30 pips of risk.
Position size = (Account size ×% risk per trade)/ (stop loss in pips × pip value)
Standard account
For a standard size pip value = $10
= ($10,000 x 1%)/ (30 x 10), 100/300
= 0.33
Mini Account
For mini size, pip value =$1
Position size = (Account size ×% risk per trade)/ (stop loss in pips × pip value)
= ($10,000 x 1%)/ (30 x $1),= 100/30
= 3.33
Micro Account
For a Micro size, pip value =$0.1
Position size = (Account size ×% risk per trade)/ (stop loss in pips × pip value)
= ($10,000 x 1%)/ (30 x $0.1), =100/3
= 33.33
If you trade a standard lot, then each pip movement is worth $10. Therefore, lot of 0.33 will result in risk of $100 if it moves 30 pips
But if you risk $100 on a position of 3.33 mini lots (equal to one standard lot, $1). In case you lose 30 pips on a 3.33 mini lot position, you’ll have lost $100.
When you trade on a micro size ($0.1 standard lot) and risk the same amount on a trade ($100). If you use the same stop loss in pips, it will require you to use 33.33 as your position size.
The number of lots the formula produces is linked to the pip value used into the formula.
If you use the pip value of a micro lot, the formula will produce your position size in micro lots.
Similarly, when you use a standard lot pip value, then you’ll get a position size in standard lots.
The same goes when you put a mini lot pip value. Read more.
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