Excel simple risk calculator needed

Hello,
I'd like to know if someone can help me with a very basic formula, Excel or just the explanation so I can make it in Excel.
I use http://www.babypips.com/tools/forex-...sitionsize.php but I'd like to have this in Excel.

Here's my situation:

I'd like to risk 2% of my account, so if my stop loss gets hit, I only lose 2%
For each trade I have a number of pips I set for my SL.
For example, I have this scenario:
- I have $1000
- I'd like to risk 2%
- My SL is of 30 pips.

What would be the lot size (or units, I use Oanda) that I must use?

What I'm looking for is an Excel sheet in which I type the money I have, the risk I'd like and the SL in pips, and it gives me the size I must risk.

I see http://www.forexfactory.com/showthre...67#post1803967 but I'd like something simpler, that one I didn't understand.

Thanks in advance.

Does Oanda have a margin call? I mean, can you trade your entire account, or do they kill the trade when you reach a certain percentage?

How does Oanda charge you? Is it a flat amount, a percent of margin, or a commission?

I need to know because your stop loss is easiest added to your cost per lot. If one microlot of EUR costs $24.30 and your stop is 30, then your cost per lot is $27.30. I can take that number and calculate your true lot size per your account size.

Thanks for the response.
They have a margin call. I'm sorry if my lack of knowledge is the problem.
I think I just need the simple formula, which I can't find.
I just need to make the calculations like in http://www.babypips.com/tools/forex-...sitionsize.php
or in http://www.forex-money-management.co...calculator/07/
I type:
- Account balance: AB
- Risk: R%
- Distance in pips to the loss stop: SL

How do I calculate the lot size or the units I need to trade so if it reaches SL then my AB loses R% ?

I read their site and I think they are at 50%, so I will input that into the formula.

Are you using meta trader? What pair(s) do you trade? I need to know because their price is part of the formula.

It is mostly done, but you seem to have disappeared. I hope you understand excel a bit? Work on Line 2 to get all the cells correct, and then drag them, one column at a time, to the bottom of the spreadsheet.

1. You need to check the pair assigned to Column C for yours.
2. You need to go into MetaTrader / Tools / Options / Server and click Enable DDE Server.

Your mt4 needs to be opened first, then your excel file. You will see a security warning probably, so click on it and activate it. It will cause the price of your pair to update and should automatically show you the lot size.

As you win/lose, input the values into Column F. You will see your new balance and that number will transfer to the next line. The lots on the second line will change to reflect the new balance. That is your size for the next trade. Make sense?

This is set to automatically calculate 2% of 50% of your account with a fixed stop loss of 30 pips. Check it manually to make sure it is giving you the right number. Let me know if you have any issues making it come alive.

Hey drock.
Thanks a lot for the Excel, I see a lot of people have downloaded it as well, great job

However I filled it manually and I still cant find the value: If EURUSD is at 1.1385 (I typed this in cell C2), then I get a 0.19 in the lot column (cell E2)
I still dont know where to include the 30 pips. Is it the 3 in the fomula? How do I change it to n pips?

Thanks in advance.

Maybe I´m not understanding.
If I set the risk to 2%, I get 0.19
But if I set it to 10% I get 0.04
Shouldn´t the lot size be higher if I want to risk more?

The results I get from http://www.babypips.com/tools/forex-...sitionsize.php are:

For a 2% and 30 pips it shows 6667 units (6 microlots)
For a 10% and 30 pips it shows 33333 units ( 33 microlots or 3 minilots)

I think I have it for EURUSD
However I think it´s different for each currency.
If you or someone else could help me I´d really appreciate it.
Thanks in advance.

It should now calculate like you requested. The protection to your account for margin call had to be removed since you are using a % of your account to determine the lot size. The first template used all available money to determine your max lot size. That is how I started trading, and it didn't dawn on me that you didn't want to use as much money as possible.

Because the margin protection is removed you should never make Column C over 50%.

The number 2% is your margin. Unless your broker changes their margin requirement, do not change that number.

The stop loss was the number 3 in the formula, but since I was already changing it, I added a column for stop loss so you can change your mind if you want to.

You should not have to manually enter the price of the pair. If Oanda has a prefix or suffix, you need to modify the name. Otherwise, just enter the name (in the excel code, not the cell) and do the mt4 update. You will see a Security Warning in between the excel buttons and the worksheet. Just click Options and Enable and it will automatically load. If you start trading more than one pair, you can either change it, or add more columns.

You will notice that $1000 at 2% risk is only $20, so it is not enough to open a trade.

I changed the name of the file to avoid confusion. You can still get the max lots value by making Column C 50%.

The key portion of the worksheet, Column G, should read

=ROUNDDOWN(((B2*C2)/((E2*F2*1000)+(D2/10))/100),2)

Let me know if there are still issues.

A lot size of 0.0x is micro lots.

A lot size of 0.x is mini lots.

A lot size of 1.x are standard lots.

Since 2% of 1000 is $20, I have no idea how babypips calculated it as 6 micro lots. It takes about $22.72 to open 1 EURUSD micro lot at the moment and that isn't counting the 30 pip stop loss. With the stop, each micro lot will cost you $25.72. So, 6 of them would require $136.32. You want to risk $20, so something is wrong over there.