Hey all,

This is my first post in this forum. I wish I knew enough about what I was doing so that my first post wasn't in the form of a quesiton, but it is what it is.

I'm new to Forex in that I haven't gone live yet. I've taken one FX online course which I believe now to have been an utter waste of money. I've read Forex Made Easy by Dicks and am in the process of reading Trend Following.

All this, and I still haven't discovered a formula for the following:

I want to risk X percent (1,3,5,10) on a position. If each pip is worth Y (8-10, 1 on a mini) dollars, my risk reward is 1:2, but my trading range is a stop at -10 pips and a limit at +20 for instance, what leverage needs to be used and how many lots?

It seems like there should be a simple equation for this, but it seems evident I simply don't have the understanding of the workings of lots and leverage.

Any and all help would be extremely well appreciated.

This is my first post in this forum. I wish I knew enough about what I was doing so that my first post wasn't in the form of a quesiton, but it is what it is.

I'm new to Forex in that I haven't gone live yet. I've taken one FX online course which I believe now to have been an utter waste of money. I've read Forex Made Easy by Dicks and am in the process of reading Trend Following.

All this, and I still haven't discovered a formula for the following:

I want to risk X percent (1,3,5,10) on a position. If each pip is worth Y (8-10, 1 on a mini) dollars, my risk reward is 1:2, but my trading range is a stop at -10 pips and a limit at +20 for instance, what leverage needs to be used and how many lots?

It seems like there should be a simple equation for this, but it seems evident I simply don't have the understanding of the workings of lots and leverage.

Any and all help would be extremely well appreciated.