Lot Size Calculator

[James Stanley]

Hello -

This is a lot size calculator that can help determine desired trade size based on the amount of your account you would like to risk. Its a real simple, small application that can really help when you're trying to find your proper trade size.

You can click on the "lotsize.zip,' file below to download. I included a video in Post #2 that will walk you through using the calculator.

If you aren't sure what type of risk you want to be taking on with your trades, or what position size to use - we have a phenomenal section on Money Management within the Trading Course. We have 2 Lesson videos that lay out a money management plan that can greatly help. I'm going to enclose a link below that goes directly into the Trading Course. This is completely free for all live FXCM Account holders. You can login with the same UserID and Password you use to login to the Trading Station.

DailyFX+ Trading Course

There are 5 inputs.

1) Account type - Select whether you are trading a micro or standard account. WARNING - Choosing incorrect account type will display incorrect amounts!

2) Account Size - This is the 'Equity,' amount from Trading Station.

3) Risk Percentage - This is the amount of your account you would like to risk. You can enter as a whole number. So, if you want to risk 3% of your account, please input: 3

4) Stop Distance - This is the difference between your entry, and stop price.

5) Pip Cost - Can be taken directly from Trading Station. The 'Simple Dealing Rates,' window contains a column for 'Pip Cost.'

Hit the Calculate button - and Trade Size will be displayed below!

Enjoy!




Application is in '.zip' file - and can be opened with the program WinZip.

[James Stanley]

This is a video walk-through of the calculator:


<embed src="http://blip.tv/play/hr81jc0DlJUL" type="application/x-shockwave-flash" width="320" height="270" allowscriptaccess="always" allowfullscreen="true"></embed>

[lissyking]

Do you have a MAC version?

[James Stanley]

Do you have a MAC version?

Hello lissyking -

as of yet, we don't have this coded in a Mac compatible version.

It's a good idea though - and given that Apple has a 10% market share and climbing it might be a great idea. If a few more folks are interested I can certainly get something put together.

Anyone else interested in a Mac version?

[ricktojohn81]

Is it really very helpful to do online trading? and to learn the basic terms related trading system.

[Mr.Daily]

Hello lissyking -

as of yet, we don't have this coded in a Mac compatible version.

It's a good idea though - and given that Apple has a 10% market share and climbing it might be a great idea. If a few more folks are interested I can certainly get something put together.

Anyone else interested in a Mac version?

I do interesting in MAC version!

[cliff]

Thank you



This is a lot size calculator that can help determine desired trade size based on the amount of your account you would like to risk. Its a real simple, small application that can really help when you're trying to find your proper trade size.

You can click on the "lotsize.zip,' file below to download. I included a video in Post #2 that will walk you through using the calculator.

If you aren't sure what type of risk you want to be taking on with your trades, or what position size to use - we have a phenomenal section on Money Management within the Trading Course. We have 2 Lesson videos that lay out a money management plan that can greatly help. I'm going to enclose a link below that goes directly into the Trading Course. This is completely free for all live FXCM Account holders. You can login with the same UserID and Password you use to login to the Trading Station.

DailyFX+ Trading Course

There are 5 inputs.

1) Account type - Select whether you are trading a micro or standard account. WARNING - Choosing incorrect account type will display incorrect amounts!

2) Account Size - This is the 'Equity,' amount from Trading Station.

3) Risk Percentage - This is the amount of your account you would like to risk. You can enter as a whole number. So, if you want to risk 3% of your account, please input: 3

4) Stop Distance - This is the difference between your entry, and stop price.

5) Pip Cost - Can be taken directly from Trading Station. The 'Simple Dealing Rates,' window contains a column for 'Pip Cost.'

Hit the Calculate button - and Trade Size will be displayed below!

Enjoy!




Application is in '.zip' file - and can be opened with the program WinZip.[/QUOTE]

[magicaff]

Hi James

I thought one micro contract is 1k and one mini contract is 10k size?
Your calculator says 10k is one standard contract?
Pls clarify.

[Thomas Long]

Hi James

I thought one micro contract is 1k and one mini contract is 10k size?
Your calculator says 10k is one standard contract?
Pls clarify.

The accounts we offer are either based on a 10K minimum or a 1K minimum, which we refer to a standard account and micro account. We placed the size next to the description to minimize any confusion.

Are you also having trouble viewing the video. The video appears fine. Do you have Flash downloaded on your computer? That might be the issue.

[Jeremy Wagner]

Log into the DailyFX Plus Webinar room for a real time example of how to use the Lot Size Calculator. I displayed it in the webinar today and you can watch the recording of this webinar by logging into the above link with your live account username and password. Then, scroll down to the bottom of the web page and look for the archive labeled "Breakouts on a Budget"!

[Tony9977]

PLEASE make a Mac version As I use a MAC I'm I use NetDania charts and Java Trading Station, and from the webinars I can see I am such a disadvantage with regards to what the PC programs can do
Now this !! WHY Don't people like MAC's
I like my MAC

[ForexSignals]

Hello lissyking -

as of yet, we don't have this coded in a Mac compatible version.

Anyone else interested in a Mac version?

This is a nice little program and works well. A mac version would be nice. But for those of us that have a mac, there is an online Lot Size Calculator here: link removed

Its really nice as it has all the same information as this program, but instead of you having to know the Pip value, all you do is select the pair you want to trade and it gets a real time update of the current pip value then displays all the position size information.

Have you guys thought about changing your program to do something like that?

[tom82]

Is there a version that one can change the Risk Percentange to $ amount instead?

Can anyone help with this please.

Thanks

Hello -

This is a lot size calculator that can help determine desired trade size based on the amount of your account you would like to risk. Its a real simple, small application that can really help when you're trying to find your proper trade size.

You can click on the "lotsize.zip,' file below to download. I included a video in Post #2 that will walk you through using the calculator.

If you aren't sure what type of risk you want to be taking on with your trades, or what position size to use - we have a phenomenal section on Money Management within the Trading Course. We have 2 Lesson videos that lay out a money management plan that can greatly help. I'm going to enclose a link below that goes directly into the Trading Course. This is completely free for all live FXCM Account holders. You can login with the same UserID and Password you use to login to the Trading Station.

DailyFX+ Trading Course

There are 5 inputs.

1) Account type - Select whether you are trading a micro or standard account. WARNING - Choosing incorrect account type will display incorrect amounts!

2) Account Size - This is the 'Equity,' amount from Trading Station.

3) Risk Percentage - This is the amount of your account you would like to risk. You can enter as a whole number. So, if you want to risk 3% of your account, please input: 3

4) Stop Distance - This is the difference between your entry, and stop price.

5) Pip Cost - Can be taken directly from Trading Station. The 'Simple Dealing Rates,' window contains a column for 'Pip Cost.'

Hit the Calculate button - and Trade Size will be displayed below!

Enjoy!




Application is in '.zip' file - and can be opened with the program WinZip.

[Walker England]

Is there a version that one can change the Risk Percentange to $ amount instead?

Can anyone help with this please.

Thanks

I am not aware of anything programmed quite like this. You can find the dollar amount though by multiplying your risk % by your account balance . Or you can divide your risk in dollars by your balance to find your risk %. Let me know if this helps .

[tom82]

Thanks for the message.

Why I ask is because I risk fixed $ amount and not the typical % risk amount.

And I trade price action. Can you refer me to more information on this topic please?

Thanks

Tom

I am not aware of anything programmed quite like this. You can find the dollar amount though by multiplying your risk % by your account balance . Or you can divide your risk in dollars by your balance to find your risk %. Let me know if this helps .