Forex trading calculators

Which calculator do I use first?

Use them in the order you plan a trade. The chart gives you the levels; the calculators turn those levels into money.

1. Check the trade is worth it. Put the entry, stop and target into the risk reward calculator. If the break-even win rate is higher than you can honestly expect to win, move on to the next setup.
2. Know what a pip costs. The pip calculator shows the value of one pip per lot for your pair and account currency. Skip this step for USD-quoted pairs in a dollar account, where a standard lot is always $10 a pip.
3. Size the position. The lot size calculator takes your balance, the percentage you're willing to lose and the stop in pips, and gives you the lots to open.

One trade, all three calculators

A buy on EUR/USD in a $5,000 dollar account, risking 1%. The entry is 1.1000, the stop loss 1.0970 and the take profit 1.1060. These prices are an example, not a trade idea.

1. Risk to reward

The stop is 30 pips away and the target 60 pips, so the trade is 1:2. It breaks even if it wins 30 ÷ (30 + 60) = 33.3% of the time, before costs.

2. Pip value

EUR/USD is quoted in dollars, so one pip on a standard lot (100,000 euros) is 100,000 × 0.0001 = $10. A mini lot is $1 and a micro lot $0.10.

3. Lot size

1% of $5,000 is $50. A 30-pip stop on one standard lot loses 30 × $10 = $300, so the size is $50 ÷ $300 = 0.1667 lots, rounded down to 0.16 lots. If the stop is hit you lose 0.16 × 30 × $10 = $48; if the target is hit you make 0.16 × 60 × $10 = $96.

Rounding down keeps the loss under your limit. Rounding up to 0.17 lots would risk $51, a little over 1%.

Conventions the calculators share

• Standard lot: 100,000 units of the base currency. A mini lot is 0.1 (10,000 units) and a micro lot 0.01 (1,000 units).
• Pip: 0.0001 for most pairs and 0.01 for pairs quoted in yen, such as USD/JPY and GBP/JPY.
• Gold (XAU/USD): one standard lot is 100 ounces and a pip is $0.01 of price, so one lot moves $1 per pip in a dollar account. Some brokers count a gold pip as $0.10 instead; check your platform's contract specification.
• Exchange rates for pairs not quoted in your account currency are example values you can change. Type today's rate from your platform for an exact answer.

Skip the typing

The calculators are free and stay free. If you'd rather not read the levels off a chart and type them in, the StraviFX app does all three steps from a photo or screenshot of the chart: it marks the structure, proposes the entry, stop and two targets with the pips and R:R, and sizes the position from your equity and risk percentage. The plan is analysis, not a signal to trade; the decision stays with you.