How to Calculate Forex Lot Size on TradingView. Free Calculator
Do you know that TradingView has a built-in Forex position size calculator?
It is completely free, it is simple to use, and it does not require a paid subscription to use it.
In this article, I will teach you how to calculate a lot size for your trades on TradingView easily in 3 simple steps.
Step 1 - Setting Up the Calculator
First, open a price chart on TradingView and find a "Trading Panel" button in the bottom of the window.
Click "Maximize Panel" afterward.
In the list of brokers, select " TradingView Paper Trading" and click "Connect".
Paper Trading is built in demo trading account on TradingView.
It does not require KYC or any other verification.
Choose "Account" list box and tap "Create Account" .
Then fill all the inputs with exactly the same parameters as your real trading account has.
Type in your exact account size, leverage and commission rate.
Then click "Create".
TradingView position size calculator is ready to use.
Step 2 - Find the Trading Opportunity
Find a trading setup to trade. Make sure that you know the exact entry level and stop loss.
Imagine that you want to buy EURUSD from 1.0899 price level with 1.08846 stop loss level.
Step 3 - Measure a Proper Lot Size
Right-click on a price chart and choose "Trade" and in the appeared menu select "Create New Order".
Fill the following fields:
"Price" - your entry level,
"% risk" - your desired risk per trade in %,
"Stop Loss price" - your stop loss price level.
Your lot size will be based on the calculated units .
In forex trading 1 standard lot equals 100000 units.
The only thing that you should do is to take the exact units number and divide it by 100000.
In our case we have 704225 units.
704225 / 100000 = 7,04 lot.
That will be your lot size for buying EURUSD with 1% risk for 100000 trading account.
If you apply TradingView for market analysis and charting and your trading terminal does not have a lot size calculator, this method will be the quickest and the easiest to apply for measuring the position size.
❤️Please, support my work with like, thank you!❤️
I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
