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The correct EUR/USD POSITION SIZE Formula?
The correct EUR/USD POSITION SIZE Formula?
Discussion in Currencies
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December 28, 2020
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The correct EUR/USD POSITION SIZE Formula?
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vpd1952
memphis
Posts: 59 since Mar 2020
Thanks: 104 given, 17 received
I wanted to run by the Position Size formula I am using, and to make sure I am calculating my Position Size correctly
EUR/USD Example:
Account Size = $3,000
Risk per trade = 3%
Amount can risk per trade = $90
Entry = 1.3051
Stop = 1.3021
Risk on
the trade ( in
Pips
) = 30 pips
30 pips x .10 cents ( Micro Lot ) = $3
$90 divided by ( 30 pips x …10 cents = $3 ) = 30 micro
Lots
So given this Position Size formula , you could trade 30 Micro Lots ( or 3 mini Lots ) ?
Just want to double check that i am calculating correctly :slight_smile:
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Tymbeline
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vpd1952
So given this Position Size formula , you could trade 30 Micro
Lots
( or 3 mini Lots ) ?
Yes - you've calculated it correctly - other than maybe in not allowing a
pip
for the spread(?).
(Hope you won't mind my mentioning that whether as much as 3% risk per trade is advisable is another matter altogether!)
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vpd1952
memphis
Posts: 59 since Mar 2020
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Tymbeline,
Thank you so much for your help
3% risk is a bit to much per trade, I do agree
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TraderMich
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Copenhagen + Denmark
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Platform: Sierra Chart
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Trading: FOREX USD/EUR; Russel Mini/Micro; Dow Mini/Micro; Gold Standard/Mini
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Yes seems right - But 3% risk is pretty high - try to keep it below 2% preferable 1%
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Northernlimit
Toronto Canada
Posts: 51 since Jan 2017
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I agree with everything here but I want to add that you also need to know your win/loss %, and win/loss $. For example, if you are risking $1 to make $1 (net of costs) then you need a winning percentage of more than 50% to be long-term profitable.
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