Forex Position Size Calculator 1.5

The inquiry pertains to position sizing within the Forex market, where an individual seeks to determine the appropriate maximum size of a position based on a predefined risk tolerance. Specifically, the trader is willing to risk a certain percentage of their total capital should the trade not perform as anticipated. A scientific approach has been employed to establish a stop loss that is a specified number of pips away from the entry price, whether it be for buying or selling.

In light of these considerations, the trader is now seeking guidance on how to calculate the maximum position size they should open. It is worth noting that the pip value corresponding to the calculated position size will be displayed alongside the quote utilized in this calculation.

For those who prefer to specify an exact monetary amount for risk rather than a percentage of total capital, it is advisable to enter that precise amount as "trading capital" while setting "max percentage to risk" at 100. This method will yield the desired outcome, and acknowledgment is given to Phil Casey for this helpful suggestion.