// Free tool
Position size calculator
Work out how many lots or contracts to trade from your balance, your risk per trade and your stop. Forex, gold and silver, index CFDs, futures and crypto, with every assumption spelled out.
Risk per trade as
From entry to stop, in pips.
Position size
- Trade this sizeRounded down to what you can trade.
- 0.50 lots
- Exact size
- 0.5 lots
- Money at risk (target)
- $100.00
- Money at risk at this size
- $100.00
What this assumes
- A standard lot is 100,000 units of the base currency.
- A pip on this pair is 0.0001 of the price.
- 1 pip on 1 lot is worth $10.00.
The formula
position size = money at risk / (stop distance x value of 1 pip or point per lot)
Money at risk is your balance times your risk percent, or a fixed amount. The result is rounded down to a size you can trade, 0.01 lots or whole contracts, so the real risk never goes above your target. The calculator shows both numbers.
Pip and point values
Forex
A standard lot is 100,000 units of the base currency and a pip is 0.0001 of the price, or 0.01 on yen pairs. On a pair quoted in your account currency, such as EUR/USD in a USD account, 1 pip on 1 lot is worth 10 units of that currency. On any other pair the value has to be converted at the current rate, which is why the calculator asks for one.
Gold and silver
A spot lot is usually 100 oz of gold or 5,000 oz of silver, so a $1 move on one gold lot is worth $100. Brokers differ, so the ounces per lot are editable.
Index CFDs
What 1 point is worth per lot depends on your broker's contract, so the calculator asks you for it. You will find it in the broker's contract specification.
Crypto
Size is in coins. A $1 move on 1 coin is $1.
Futures
Exchange-traded contracts have fixed specs. The calculator uses these standard CME values:
| Contract | Tick | Per tick | Per point |
|---|---|---|---|
| ES E-mini S&P 500 | 0.25 | $12.50 | $50 |
| MES Micro E-mini S&P 500 | 0.25 | $1.25 | $5 |
| NQ E-mini Nasdaq-100 | 0.25 | $5.00 | $20 |
| MNQ Micro E-mini Nasdaq-100 | 0.25 | $0.50 | $2 |
| YM E-mini Dow | 1 | $5.00 | $5 |
| MYM Micro E-mini Dow | 1 | $0.50 | $0.5 |
| RTY E-mini Russell 2000 | 0.1 | $5.00 | $50 |
| M2K Micro E-mini Russell 2000 | 0.1 | $0.50 | $5 |
| GC Gold (100 oz) | 0.1 | $10.00 | $100 |
| MGC Micro Gold (10 oz) | 0.1 | $1.00 | $10 |
| CL Crude Oil (1,000 bbl) | 0.01 | $10.00 | $1,000 |
| MCL Micro Crude Oil (100 bbl) | 0.01 | $1.00 | $100 |
Questions
- How much should I risk per trade?
- That is your call, and it depends on how long your strategy's losing streaks run. Put your worst streak through the drawdown calculator to see what a given risk does to the account.
- Does it work for an account that is not in USD?
- Yes. Pick your account currency. When the instrument is priced in another currency, the calculator asks for the exchange rate it needs and says which one.
- Why does it say 0 lots or 0 contracts?
- Your money at risk is smaller than the loss on the smallest tradable size at that stop. Widen the risk, tighten the stop, or use a smaller contract such as a micro.
- Are the pip and point values exact for my broker?
- Forex pip values and CME futures specs are standard. Gold, silver and index CFD contract sizes vary by broker, so check them against your broker and edit the value if it differs.
Practice the sizing before it costs you
In ChartLabs you trade historical charts bar by bar, and the order bar sizes each position from your risk percent and stop distance. Every trade then feeds your stats.