I answered a lot of questions about lot sizing, how to calculate it for non usd pairs especially, so I decided to code that indicator which can help young traders to do this calculations without being confused.
There’s two fields to fill – “Risk” percentage and “StopLoss” in Pips. This indicator using four digits(old school) Pips so if you trade with five/three digits pairs this value will multiply StopLoss value by ten in the case 25.0 pips equals 250 points.
If StopLoss value equals zero or empty this calculator is switching to simple lot size calculation based on percent of your balance without SL using.
Let’s check the settings of lot calculator:
You can set pre define Risk percentage and Stop Loss parameters.
I sharing this indicator because I want to make you guys more consistent with your trading process. Without understanding your risks you can’t achieve this goal.
Be cool and see you soon!