MT4 Position Size Calculator is an indicator that quickly calculates the correct lot size to use in a trade. Since Risk Management is one of the most important aspects of trading, this is a tool that you want in your arsenal.
Position Size Calculator For MT4
Calculating the Position Size in Metatrader is normally not a quick task, but it is a very important one.
Metatrader doesn’t offer a quick way to calculate the position size so usually a trader needs to manually perform several calculations.
When you are submitting an order you are already supposed to know and type in the Lot Size for the trade.
So in this case you should calculate it manually using the formula I shared in this article.
An alternative is to use some other online tool, losing time the process.
MT4 Position Size Calculator is an easy and quick tool to Calculate the Position Size in MT4 and see the lot size and risk reward ratio.
Position Size Calculator Indicator For MT4 is a great tool to easily calculate the position size for a trade
With Lot Size Calculator you can:
- Set your risk management preferences
- Select the percentage of risk
- Configure Stop Loss and Take Profit by points or prices
- Set Stop Loss and Take Profit dragging lines on chart
- Immediately see the possible loss and profit
- Calculate the ideal position size to meet your risk management
- See the Risk Reward Ratio for a trade
This trading “plugin” allow you to perform operations that usually are not so quick and it is very simple to use.
The graphical interface is designed to be as simple as possible.
Stop Loss And Take Profit Configuration
With this indicator you can easily set the stop loss and take profit directly from the panel and then adjust the levels in the chart.
The Chart is interactive and you can move the lines to adjust the levels accordingly.
Position Size Calculator
If you set a Stop Loss the Position Size Calculator for MT4 immediately calculates the Lot Size to satisfy the risk management.
Stop Loss can be set as distance from the open price or as a price level.
Risk Reward Ratio Calculator For MT4
If you set both Stop Loss and Take Profit the indicator will show you the Risk Reward Ratio.
This is very useful so you can check if you satisfy the rules for your strategy.
Risk Management Parameters
The indicator also allows you to change the calculation base, percentage and amount you risk, for flexible calculation.
A Note About Risk Management In Trading
Whether you trade Forex, or Stocks or Indexes, Commodities, or any other instruments, it is no secret that risk management is fundamental.
Risk Management consists in a set of rules that can keep your account safe from unexpected events.
During your trading activities you will encounter periods of drawdown.
You will encounter consecutive strikes of losses.
Having good Risk Management can make a difference between having your account blown up or not.
Also Risk Management is often the difference between a successful trader and an amateur.
Risk Management includes concepts like:
- Stop Loss
- Position Size
- Risk Reward Ratio
Advance Tool One Click Trade Pro for Metatrader
The Position Size Calculator Indicator for MT4 is a great tool and it is FREE!
If you want a tool that can also submit the order once the lot size is calculated then you can try One Click Trade Pro, a simple interface to calculate data and manage orders quickly
Indicator Installation Instructions
To install the Indicator please follow the instructions below:
- Download the Indicator file
- Open the Metatrader Data Folder (In File > Open Data Folder)
- Open the MQL4 Folder
- Copy the file in the Indicators folder (If you downloaded the source code version)
- Restart Metatrader
For more detailed instruction on how to perform the installation and a tutorial video please visit this page.
Please feel free to leave a feedback regarding the tool or Contact Us for any further question.