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looking for lot size calculator

  • #1
  • First Post: Jan 15, 2008 1:35am Jan 15, 2008 1:35am
hi all.
i want to find calculator that can calculate position size based on percentage of risk.
it would be better if in excel .xls or free software.
Something like i select the pair, % of risk,mini/micro/standard account type, leverage, and stop in pips, then it will calculate the lot size.

Something like this:-i dl it from this forum also,

but some 2airs are missing, NZD/JPY & AUD/NZD

someone can pls add these 2 pairs in? Or is there any better one?
Attached File(s)
File Type: xls Money Management Calculator.xls   38 KB | 6,446 downloads
  • #2
  • Jan 15, 2008 1:42am Jan 15, 2008 1:42am
Hi Mate

I was looking for the same thing myself and found it at mataf.net.

click on the trading tools tab near the top of the screen and click on the 'adjust the position sizing' link under Risk Management.

It works it all out for you


Hope this helps


* edit - Just noticed it doesnt have the pairs you mentioned.


Rich
  • #3
  • Sep 29, 2009 12:38pm Sep 29, 2009 12:38pm
I find this so unbelievably strange. To me the logical way to open a trade is to first decide on your stop distance and risk amount (in pounds) and THEN calculate your lot size. I cant understand for the life of me why someone has not yet created a spreadsheet with the relevant formulas for all the pairs to calculate your lot size based on your risk amount (GBP) and stop distance (pips).

I have tried adapting the few calculators that are currently available for USD accounts but they never seem to correctly add up! I use Alpari UK (Micro lots) so spreads are around 20 or 30 pips. Anyone who can offer me some help or a complete spreadsheet solution?

Thanks.
  • #4
  • Sep 29, 2009 2:55pm Sep 29, 2009 2:55pm
Quoting slam
I find this so unbelievably strange. To me the logical way to open a trade is to first decide on your stop distance and risk amount (in pounds) and THEN calculate your lot size. I cant understand for the life of me why someone has not yet created a spreadsheet with the relevant formulas for all the pairs to calculate your lot size based on your risk amount (GBP) and stop distance (pips).

I have tried adapting the few calculators that are currently available for USD accounts but they never seem to correctly add up! I use Alpari UK (Micro lots)...
I agree and I have done that. Will dig that out, have it somewhere on my harddisk.
  • #5
  • Sep 29, 2009 3:17pm Sep 29, 2009 3:17pm
Try this: http://currensys.com/FreeForex.php It's a lot less cumbersome than opening excel all the time.

I calculates lots in standard, mini, and micro and will return results in any major currency.
  • #6
  • Sep 29, 2009 3:19pm Sep 29, 2009 3:19pm
http://www.forexfactory.com/showthread.php?t=38909
  • #7
  • Sep 29, 2009 4:45pm Sep 29, 2009 4:45pm
Thanks for the quick reply guys.

Peter: I have seen this spreadsheet before and it looks good as it imports prices from MT but the account currency cant be changed from USD

Phil: Wow this looks like exactly what i needed but im wondering where the software gets its prices from and how accurate they are?

Is leverage relevant to calculating the lot size? I ask this because my account is set on 1:500 and i have reduced this in the past and as far as i remember it did affect the value of my lot size but i may be wrong!
  • #8
  • Sep 29, 2009 5:59pm Sep 29, 2009 5:59pm
Quoting slam
Thanks for the quick reply guys.

Phil: Wow this looks like exactly what i needed but im wondering where the software gets its prices from and how accurate they are?

Is leverage relevant to calculating the lot size? I ask this because my account is set on 1:500 and i have reduced this in the past and as far as i remember it did affect the value of my lot size but i may be wrong!
Quotes come from Yahoo Finance and can be delayed up to 15 minutes. However, that doesn't matter when calculating lot size. Even a difference of 100 pips would have little to no effect on position size calculations because price only affects the pip values and very large changes are required to move the pip value.

Leverage has absolutely nothing to do with calculating lot size. I included a tab on leverage more for educational purposes than to make actual trading decisions.

Let me know if you have any questions on the calculator.
  • #9
  • Sep 30, 2009 5:13am Sep 30, 2009 5:13am
Thanks Phil that explains everything perfectly. One thing I have finally noticed after hours of searching and trying different calculators is that is makes no difference what your account currency is. The risk amount input will calculate the same lot size, all these calculators should just change the risk amount to 'units of your account currency' rather than only USD!
  • #10
  • Sep 30, 2009 7:37am Sep 30, 2009 7:37am
Quoting slam
Thanks Phil that explains everything perfectly. One thing I have finally noticed after hours of searching and trying different calculators is that is makes no difference what your account currency is. The risk amount input will calculate the same lot size, all these calculators should just change the risk amount to 'units of your account currency' rather than only USD!
You are correct. "X" percent of any currency will still lead to a fractional (presumably small) amount of your account. The pip values of most currencies are close enough that it doesn't matter a whole lot. The exception is the EURGBP. It used to be around $20 but now it's down to $16.
  • #11
  • Sep 30, 2009 2:09pm Sep 30, 2009 2:09pm
Over the years I've made a lot of stuff such as position size calculator, my own indicators on Excel, etc. I always viewed it as part of the learning process of trading. Making this stuff simply gives you a better understanding of what you want and how to do it. I don't understand why more people don't do it, but instead rely on others to do it for them. I, for one, wouldn't be comfortable using things like a lot calculator until I took it apart to make sure it was correct.

Hell, I even made a FibNodes program such as DiNapoli sells , simply because he had written that it would be too difficult to do so and that it wouldn't be worth the time and effort. Mine rocks.
  • #12
  • Sep 30, 2009 2:15pm Sep 30, 2009 2:15pm
Quoting Dopey
I don't understand why more people don't do it, but instead rely on others to do it for them. I, for one, wouldn't be comfortable using things like a lot calculator until I took it apart to make sure it was correct.
As a former nuclear engineer, I've made some fairly critical calculations in my time. I never once tore the calculator apart to see what happened when I pushed the numbers on the front.
  • #13
  • Sep 30, 2009 2:36pm Sep 30, 2009 2:36pm
Quoting philmcgrew
As a former nuclear engineer, I've made some fairly critical calculations in my time. I never once tore the calculator apart to see what happened when I pushed the numbers on the front.
Yea, well that's you. One can assume that TI made their calculators correctly. I, for one, wouldn't give the same level of trust to something I got from a forex forum, especially when my money is involved.

The main point I was making is that it's a good thing to make a position sizing calculator yourself simply to ensure you really understand position sizing.
  • #14
  • Oct 29, 2009 6:39pm Oct 29, 2009 6:39pm
how to unlock the size calculator on the spread shht
  • #15
  • Oct 31, 2009 5:24pm Oct 31, 2009 5:24pm
Hi, I've made the attached file tonight..

I think it's correct, so feel free to use it (- it's unlocked)
Attached File(s)
File Type: xls Risk Management Tool2.xls   21 KB | 3,082 downloads
  • #16
  • Jan 10, 2010 9:46pm Jan 10, 2010 9:46pm
The attachment is a EA that calculates lots to purchase based on Risk to equity. It's contribution is the
double LotsToOpen(double riskLevel, double ticksToRisk) function.

What I need to complete this is a way to calculate the ticks-in-a-pip, such that the program could take the old 'standard' pip definition ($10 per tick on a EUROUSD lot) and figure out the ticks on the new 'fractional pip' systems. See the function
double TicksInOnePip()
that currently relies on user input. Assuming the rest of my assumptions about how the mt4 system works is correct, that would complete the lot risk calculator.
Set these values to get a risk calculation:
UseFixedPipStopLoss = false; // Set to true to use FixedPipsForRisk (Uses ATR in this example if false)
FixedPipsForRisk = 20; // Value for user chosen Pip Value example
TicksInAPip = 10; // it is usually 10 or 1; 10 if the broker supports fractional pips. Need a formula to get this.
extern int EquityRiskPercent = 2; // Percent of account equity to risk on a trade
MaxMarginPercentToUse = 30; // How much of the maximum Margin available should be used?
ATRBars = 10; // Number of bars to include in the ATR indication.
Attached File(s)
File Type: mq4 RiskLotCalculator.mq4   11 KB | 1,863 downloads
  • #17
  • Jan 11, 2010 1:43am Jan 11, 2010 1:43am
thanks for the EA! Will try it out!
  • #18
  • Jan 13, 2010 3:17am Jan 13, 2010 3:17am
thanks for the EA! Will try it out!
  • #19
  • Edited Sep 26, 2011 8:08am Sep 25, 2011 11:57pm | Edited Sep 26, 2011 8:08am
Attachment Updated the RiskLotCalculator as not all brokers had needed values returned in MarketInfo(). Couldn't resist cleaning it up some as well.
Debug level is set at 1, valid values are 0, 1 and greater than 1. If you set it at 2 it will display values from Market info, and has values used for calculations marked with a '*'. There is a function in the code to provide dummy values if the MarketInfo() value is zero.
Attached File(s)
File Type: mq4 RiskLotCalculator.mq4   20 KB | 901 downloads
  • #20
  • Sep 29, 2011 8:22pm Sep 29, 2011 8:22pm
Pretty easy to turn the expert into an indicator, here it is, and a typo fixed in the expert.
Attached File(s)
File Type: mq4 RiskLotCalculator.mq4   20 KB | 1,537 downloads
File Type: mq4 RiskLotIndicator.mq4   13 KB | 1,482 downloads
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