Hi everyone. I found a little website that may be of use for many of you. It helps you calculate your possible position size based on what percentage of your account you want to risk. Say for example you have a $2000 account and you want to risk 2% of it. Then let’s say your stop loss on a hypothetical EUR/USD position is 200 pips. Now all you need to do is input all the variables in the proper text fields, press calculate, and badaboom-badabing – the result is that you should trade with max 2 microlots which will give you a total “dollars at risk” value of $40.
Without further ado here is the website I’m referring to:
Hope you find it useful. Good luck with your trading!