Draw a rectangle on your chart, then based on the top and bottom of the rectangle representing the stop and entry levels, magically see the position size based on risking 1% of your account balance.
LMBFPositionSize solves the problems of how to instantly determine the correct position size for any trade.
To use the tool, attach the indicator to your chart and then use Ctrl-Tab to place a rectangle on the chart. Adjust this so that its top and bottom are located at the correct stop-loss and trade entry price levels.
The position size for risking 1% of your account capital will be displayed in the bottom left corner of the rectangle. An allowance for the spread is automatically included in the calculation without having to manually adjust the levels.
Calculating the position size
Don't worry if you don't quite get the rectangle top and bottom at the correct levels on the first attempt. Change the size of the rectangle and the position size automatically updates on your chart.
Updating position size as rectangle is adjusted
Note: To risk more than 1% of your account in a trade, simply multiply the number displayed by the percentage of risk to be used. For example, if the indicator displays 1.25 lots, and you wish to risk 2.5% of your account balance, multiple 1.25 by 2.5, giving 3.125 lots.
WARNING: Whilst the position sizing tool has undergone considerable testing with a broad range of currency pairs, commodities and indices, please carry out testing of your own prior to relying on this tool. No responsibility is taken for any losses resulting from the calculation of position size using this tool.
Click here to purchase the LMBFPosition size indicator utility