Myfxbook Position Size Calculator

Forex Position Size Calculator

EUR/USD USD/JPY GBP/USD AUD/USD NZD/USD USD/CAD USD/CHF EUR/JPY GBP/JPY XAU/USD (Gold) BTC/USD (Bitcoin)

USD EUR GBP JPY AUD CAD CHF NZD

e.g., if Account is EUR, Quote is USD, input EUR/USD rate (1.10). If Account is USD, Quote is JPY, input USD/JPY rate (150). If Account == Quote, input 1.

function calculatePositionSize() { var accountBalance = parseFloat(document.getElementById('accountBalance').value); var riskPercent = parseFloat(document.getElementById('riskPercent').value); var stopLossPips = parseFloat(document.getElementById('stopLossPips').value); var currencyPair = document.getElementById('currencyPair').value; var accountCurrency = document.getElementById('accountCurrency').value; var quoteToAccountRate = parseFloat(document.getElementById('quoteToAccountRate').value); var resultDiv = document.getElementById('result'); resultDiv.style.color = '#333'; // Reset color for new calculations // Input validation if (isNaN(accountBalance) || accountBalance <= 0) { resultDiv.innerHTML = 'Please enter a valid Account Balance.'; return; } if (isNaN(riskPercent) || riskPercent 100) { resultDiv.innerHTML = 'Please enter a valid Risk Percentage (0.01-100).'; return; } if (isNaN(stopLossPips) || stopLossPips <= 0) { resultDiv.innerHTML = 'Please enter a valid Stop Loss in Pips.'; return; } if (isNaN(quoteToAccountRate) || quoteToAccountRate <= 0) { resultDiv.innerHTML = 'Please enter a valid Exchange Rate (Account Currency / Quote Currency).'; return; } var riskAmount = accountBalance * (riskPercent / 100); var pipStep; var baseCurrencySymbol; var quoteCurrencySymbol; var contractSize; // Units per standard lot switch (currencyPair) { case "EUR/USD": pipStep = 0.0001; baseCurrencySymbol = "EUR"; quoteCurrencySymbol = "USD"; contractSize = 100000; break; case "GBP/USD": pipStep = 0.0001; baseCurrencySymbol = "GBP"; quoteCurrencySymbol = "USD"; contractSize = 100000; break; case "AUD/USD": pipStep = 0.0001; baseCurrencySymbol = "AUD"; quoteCurrencySymbol = "USD"; contractSize = 100000; break; case "NZD/USD": pipStep = 0.0001; baseCurrencySymbol = "NZD"; quoteCurrencySymbol = "USD"; contractSize = 100000; break; case "USD/CAD": pipStep = 0.0001; baseCurrencySymbol = "USD"; quoteCurrencySymbol = "CAD"; contractSize = 100000; break; case "USD/CHF": pipStep = 0.0001; baseCurrencySymbol = "USD"; quoteCurrencySymbol = "CHF"; contractSize = 100000; break; case "USD/JPY": pipStep = 0.01; baseCurrencySymbol = "USD"; quoteCurrencySymbol = "JPY"; contractSize = 100000; break; case "EUR/JPY": pipStep = 0.01; baseCurrencySymbol = "EUR"; quoteCurrencySymbol = "JPY"; contractSize = 100000; break; case "GBP/JPY": pipStep = 0.01; baseCurrencySymbol = "GBP"; quoteCurrencySymbol = "JPY"; contractSize = 100000; break; case "XAU/USD": pipStep = 0.01; baseCurrencySymbol = "XAU"; quoteCurrencySymbol = "USD"; contractSize = 100; break; // Gold, 1 pip = $0.01, 1 standard lot = 100 oz case "BTC/USD": pipStep = 1; baseCurrencySymbol = "BTC"; quoteCurrencySymbol = "USD"; contractSize = 1; break; // Bitcoin, 1 pip = $1, 1 standard lot = 1 BTC default: resultDiv.innerHTML = 'Unsupported Currency Pair selected.'; return; } // Value of 1 pip for 1 unit of the base currency (in Quote Currency) var pipValuePerUnitInQuote = pipStep; // Value of 1 pip for 1 unit of the base currency (in Account Currency) // Formula: pipValuePerUnitInAccount = pipValuePerUnitInQuote / (AccountCurrency / QuoteCurrency rate) var pipValuePerUnitInAccount = pipValuePerUnitInQuote / quoteToAccountRate; // Total risk in Account Currency per unit of position var totalRiskPerUnit = stopLossPips * pipValuePerUnitInAccount; if (totalRiskPerUnit === 0) { resultDiv.innerHTML = 'Cannot calculate position size. Total risk per unit is zero (check Stop Loss Pips or Exchange Rate).'; return; } // Position Size (in units of Base Currency) var positionSizeUnits = riskAmount / totalRiskPerUnit; // Position Size in standard lots var positionSizeLots = positionSizeUnits / contractSize; // Pip Value per standard lot (in Account Currency) var pipValuePerLotInAccount = pipValuePerUnitInAccount * contractSize; var currencySymbol = getCurrencySymbol(accountCurrency); resultDiv.innerHTML = 'Risk Amount: ' + currencySymbol + ' ' + riskAmount.toFixed(2) + " + 'Position Size: ' + positionSizeUnits.toFixed(2) + ' ' + baseCurrencySymbol + ' units' + 'Position Size (Lots): ' + positionSizeLots.toFixed(2) + ' standard lots' + 'Pip Value (per standard lot): ' + currencySymbol + ' ' + pipValuePerLotInAccount.toFixed(2) + "; } function getCurrencySymbol(currencyCode) { switch (currencyCode) { case "USD": return "$"; case "EUR": return "€"; case "GBP": return "£"; case "JPY": return "¥"; case "AUD": return "A$"; case "CAD": return "C$"; case "CHF": return "CHF"; case "NZD": return "NZ$"; default: return ""; } }

Understanding the Forex Position Size Calculator

The Forex Position Size Calculator is an essential tool for any trader, helping you manage risk effectively by determining the appropriate trade size for your account. It ensures that you don't risk more capital than you're comfortable losing on a single trade, which is a cornerstone of sound risk management.

Why Position Sizing Matters

Without proper position sizing, even a few losing trades can significantly deplete your trading capital. By calculating your position size based on your account balance, risk tolerance, and stop-loss level, you can maintain consistent risk exposure and protect your account from substantial drawdowns. This calculator helps you avoid emotional trading decisions by providing a clear, data-driven approach to trade sizing.

How to Use This Calculator

To use the calculator, simply input the following details:

• Account Balance: Your total trading capital in your account currency.
• Risk Percentage (%): The percentage of your account balance you are willing to risk on this specific trade. A common recommendation is 1-2%.
• Stop Loss (Pips): The distance in pips from your entry price to your stop-loss level. This defines your maximum loss for the trade.
• Currency Pair / Instrument: The specific currency pair (e.g., EUR/USD, USD/JPY) or instrument (e.g., XAU/USD for Gold, BTC/USD for Bitcoin) you are trading. This helps determine the pip value.
• Account Currency: The base currency of your trading account (e.g., USD, EUR, GBP).
• Exchange Rate (Account Currency / Quote Currency): This is a crucial input for accurate calculations. It represents how many units of your Account Currency equal one unit of the Quote Currency of your selected pair.
  • If your Account Currency is the same as the Quote Currency of the pair: Input 1. (e.g., Pair EUR/USD, Account USD. Quote is USD, so input 1).
  • If your Account Currency is different from the Quote Currency: Input the current exchange rate of Account Currency / Quote Currency.
    • Example 1: Pair EUR/USD, Account EUR. Quote is USD. You need the EUR/USD rate (e.g., if EUR/USD is 1.10, input 1.10).
    • Example 2: Pair USD/JPY, Account USD. Quote is JPY. You need the USD/JPY rate (e.g., if USD/JPY is 150, input 150).
    • Example 3: Pair EUR/JPY, Account USD. Quote is JPY. This is a cross-currency conversion. You would need to calculate USD/JPY rate. If USD/JPY is 150, input 150.

Calculation Examples:

Example 1: USD Account, EUR/USD Pair

• Account Balance: $10,000
• Risk Percentage: 1%
• Stop Loss (Pips): 50
• Currency Pair: EUR/USD
• Account Currency: USD
• Exchange Rate (Account Currency / Quote Currency): 1 (since Quote is USD, Account is USD)
• Result:
  • Risk Amount: $100.00
  • Position Size: 20,000.00 EUR units
  • Position Size (Lots): 0.20 standard lots
  • Pip Value (per standard lot): $10.00

Example 2: EUR Account, EUR/USD Pair

• Account Balance: €10,000
• Risk Percentage: 1%
• Stop Loss (Pips): 50
• Currency Pair: EUR/USD
• Account Currency: EUR
• Exchange Rate (Account Currency / Quote Currency): 1.10 (assuming EUR/USD is 1.10)
• Result:
  • Risk Amount: €100.00
  • Position Size: 22,000.00 EUR units
  • Position Size (Lots): 0.22 standard lots
  • Pip Value (per standard lot): €9.09

Example 3: USD Account, USD/JPY Pair

• Account Balance: $10,000
• Risk Percentage: 1%
• Stop Loss (Pips): 50
• Currency Pair: USD/JPY
• Account Currency: USD
• Exchange Rate (Account Currency / Quote Currency): 150 (assuming USD/JPY is 150)
• Result:
  • Risk Amount: $100.00
  • Position Size: 30,000.00 USD units
  • Position Size (Lots): 0.30 standard lots
  • Pip Value (per standard lot): $6.67