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Lot size calculator for good money management

  • #21
  • Jan 19, 2008 7:58pm Jan 19, 2008 7:58pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting giraia_br
could anyone help me?

Marketiva like Oanda uses 'units' not lots. Leverage is 100:1, so with the $5 practice account i can use max 500 units.

for example buying gbpjpy at 211.83 with stop at 206.90 what numbers of units should i enter the trade to risk 10%?

how use the calculators to do that calc?

thanks in advance.
Giraia_br

I'm not familiar with the Oanda units.... for starters, I would ask what is the correlation between pips and units.

The calculator requires that you enter the number of pips for your stop-loss rather than price, so converting oanda units to pips would be the first step.

Sorry I can't be of more help with this one. If you work it out, let me know.

TrevA
  • #22
  • Jan 19, 2008 7:58pm Jan 19, 2008 7:58pm
http://www.goforex.net/money-management-calculator.htm
If I Go Broke Trying Then I Will die happy.
  • #23
  • Jan 19, 2008 8:01pm Jan 19, 2008 8:01pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting Mr. Roboto
No problem, pipal. If you're money management is anything like mine, you're going to find yourself using that calculator everytime you make a trade.
Mr. Roboto

I agree with you 100%. I use the calculator (mine) every time I make a trade. I rely on accurate money management and setting a realistic stop-loss take the pressure of what would be over-extended positions.

Thanks for your contribution and link to the calculator.

TrevA
  • #24
  • Jan 19, 2008 8:03pm Jan 19, 2008 8:03pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting fxtrader1979
Thats a pretty nifty tool there I like it. Also TrevA I agree that no where near enough attention is given to money management which is the real key in my opinion to successful trading.


-FXTrader1979
My goal with this thread is to raise the profile of money management away from system entries, which in my opinion have been flogged to death. Entries are so easy... it is the exit kill you.

TrevA
  • #25
  • Edited 2:30am Jan 21, 2008 2:08am | Edited 2:30am
Quoting giraia_br
could anyone help me?

Marketiva like Oanda uses 'units' not lots. Leverage is 100:1, so with the $5 practice account i can use max 500 units.

for example buying gbpjpy at 211.83 with stop at 206.90 what numbers of units should i enter the trade to risk 10%?

how use the calculators to do that calc?

thanks in advance.
The leverage won't affect the number of units to be traded (it only affects the amount of collateral that you have to place on your broker's table in order to make the trade). When you use one of the calculators, just input the percentage of your account that you want to risk. The attached PDF has a screenshot of the calculator I use with the numbers you gave. The calculator says to buy 10.78 USD, but you're going to have to convert that to GBP since you're buying units of GBP/JPY. So if GBP/USD is at 1.9490, then 10.78 USD = (10.78/1.9490) GBP = 5.53 GBP. You're therefore going to have to buy 5.53 units of GBP/JPY
Attached File(s)
File Type: pdf lot size calculator.pdf   61 KB | 5,168 downloads
Domo Arigato, Mr. Roboto!
  • #26
  • Jan 21, 2008 2:48am Jan 21, 2008 2:48am
Quoting TrevA
This is a good question... I just correct the next level... usually on a daily basis. The levels are just a guide.

in your case, you would set the level 2 equity to 545 because the percentage of equity determines your lot size.

TrevA
Thanks for your reply.
  • #27
  • May 26, 2008 2:26am May 26, 2008 2:26am
I've found spreadsheet. And you can see the math behind the compounding effect. Dunno whether it's helpful
Attached File(s)
File Type: xls testing sheet.xls   75 KB | 3,509 downloads
  • #28
  • Aug 28, 2010 8:50am Aug 28, 2010 8:50am
Quoting TrevA
Hi All

In my estimation, 80% of the threads on systems seem to discuss finding the best entry rather than discussing money management. To me this seems a little misdirected because even sub-optimal entries can be very profitable with the right money management. More effort placed in managing money, calculating an optimal stop-loss and limiting losses will result in greater long term profits for you.

When you hear phrases like "only risk 2%" what does this mean to you? Does it mean use 2% of your equity to buy currency? Does it mean only allow...
Hi

Anybody have the password to unlock the spreadsheet

Thanks

Gil
  • #29
  • Sep 15, 2010 4:21am Sep 15, 2010 4:21am
Does anyone know whether the calculator offered at this web page is accurate and reliable?

http://www.earnforex.com/position-size-calculator

Cheers,

D
  • #30
  • Nov 25, 2010 4:22pm Nov 25, 2010 4:22pm
I'm still having some troubles here guys... This is really an interesting post but I'm a bit lost.

Let me give ask you a few clear questions. For example, on a demo account using the mt4 platform sometimes the equity bar is red. I know that means the free margin available is very low but how low can it be? Does this mean leverage is very high at this point?
  • #31
  • Dec 22, 2010 1:54pm Dec 22, 2010 1:54pm
Is it possible to trade with 1 lot on account with 100$?
I gues is not possible,so pleasse tell me how my money should I hawe on account to be able to buy 1 lot?
  • #32
  • Dec 22, 2010 6:51pm Dec 22, 2010 6:51pm
i use 20% of my account in my trade,since i dont have much,

im thinking of going into 2 open positions instead of one

eg.2k lot=2x1k lot

so i have 2 open position i close one at half 40-50pips what i want(100pips) then i wait for the last position to reach my goal,or show some retracement where i would sell,if it goes back up again ill just sell it at the same loss that i got my profit ,so make it even
  • #33
  • Dec 22, 2010 7:05pm Dec 22, 2010 7:05pm
one recommendation i would like to make for noobs with demo accoutns,
GET OF IT!u might be making big profits trading virtual money ,but when u go to a real account ull be sure not to see big profits in years,ull make some and then ull loose it all,since this is real money,my recom would be to put $500 in a real account then practise with real money ,loosing it is gonna kill u ,not so much in demo,then ull learn the best money management use mini lots until u get better,keep practising in reality,

its like learning to survive in a jungle(demo)and after actually being frown it (real)do u think ull survive in amazon with all the books u read about surviving in jungle ,u might but not for long when fear kicks in,when u mentally loose it,
'
take bear grylls for example hes trained in military then he went to the jungles and trained there,after he went to deserts and all types of enironments to train then do smaller missions ,then medium and thenn bigger ones,i speculate that was his beggining in the military career,look at him now,he can survive in any jungle desert,mountain anywhere,and now thats a master of the jungle,markets are nothing more than a jungle with in ur screen ,candlesticks ,bars watever u use,
until u get mentally used to it,u aint gonna have a good feel for it
  • #34
  • Jan 27, 2011 2:52pm Jan 27, 2011 2:52pm
Can you please give me the correct formula to calculate the lot size ?
i don't understand (ROUND)(G4/F4+E4)D4;2)

thx :-)

Quoting TrevA
Hi All

In my estimation, 80% of the threads on systems seem to discuss finding the best entry rather than discussing money management. To me this seems a little misdirected because even sub-optimal entries can be very profitable with the right money management. More effort placed in managing money, calculating an optimal stop-loss and limiting losses will result in greater long term profits for you.

When you hear phrases like "only risk 2%" what does this mean to you? Does it mean use 2% of your equity to buy currency? Does it mean only allow...
  • #35
  • Edited 6:58pm Apr 7, 2011 6:10pm | Edited 6:58pm
HI
My easy calculation.

For example your risk is 200$
If you buy EURUSD @ 1.3100 and StopLoss @ 1.3050 (50 SL_pips)
Factor = MarketInfo("EURUSD",MODE_TICKVALUE); here is 1
then

Attached Image (click to enlarge)
Click to Enlarge Name: calc_ed.JPG Size: 17 KB



for buy USDJPG @ 85.80 and StopLoss @ 85.30 (50 SL_pips)
Factor = MarketInfo("USDJPG",MODE_TICKVALUE) return about 1.17
then
Attached Image (click to enlarge)
Click to Enlarge Name: calc_uj.JPG Size: 20 KB





best regards.
----------
Robert
  • #36
  • Apr 7, 2011 10:13pm Apr 7, 2011 10:13pm
http://www.babypips.com/tools/forex-...sitionsize.php
  • #37
  • Sep 23, 2011 6:41am Sep 23, 2011 6:41am
Quoting GilR
Hi

Anybody have the password to unlock the spreadsheet

Thanks

Gil
The spreadsheet has a password to protect the formulas from being inadvertently changed so if you wish to change the formulas then unlock the sheet with ' password '

Get it?
OPPORTUNITY IS NOWHERE
  • #38
  • Sep 23, 2011 5:09pm Sep 23, 2011 5:09pm
Quoting TrevA
Hi All



Why use the percentage of equity mode?

TrevA
I was wondering why one shouldn't use a "percentage of free margin" mode?
  • #39
  • Oct 4, 2011 2:03am Oct 4, 2011 2:03am
Quoting egadsforex
I was wondering why one shouldn't use a "percentage of free margin" mode?
I don't know, when you find out, let us know how that is working for you, a research link below

http://www.gpixmedia.com/forex/?p=422
OPPORTUNITY IS NOWHERE
  • #40
  • Oct 4, 2011 2:15am Oct 4, 2011 2:15am
There is indi for that, I find it very comfortable - just insert your SL in pips and % you are willing to risk in one trade and itīll calculate lot size for you.
Attached File(s)
File Type: ex4 LotCalculator v1.ex4   4 KB | 2,374 downloads
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