Okay, so this is the demonstration of the position size calculate is going to help you work out your trade size, which is a key aspect of your risk management. So, as I mentioned in the form of video, is you need to go to the following website, www dot urn forex.com forward slash position size calculator. Once there you will see the following screen. And it's really, really easy to work out your trade size, you just need to fill in some certain criteria, which are specific to you. So let's go through those. So first and foremost is the account currency that you have funded your trading account with, you can click on the drop down box and you can select from many different currencies.

Once you've done that, you will then input the account size of your trading account. So how much have you funded your account with? So in this example, here, I've used $10,000 risk ratio is how much on a percentage basis you want to risk of this 10 thousand pounds or your account size. So I've got 1%. Remember anywhere between one to 3% based on your own experience results in confidence, stop loss is always going to be 80 pips, because that's the maximum stop loss level that we'll have on every single trade. So we're going to pop in at there.

And then all you're doing here is selecting your currency pair. So in this example, I'm just going to use euro dollar. Once you've done all that, you can click on calculate, and it will then give you your results. So all it's saying in this top box here is that I would be if this trade got stopped out, I would lose $100. That's your sanity check. Because if that figure is different to what you want to accept, as a maximum risking money, you've done something not quite right.

So go back through your fingers, adjust them and you'll find that auto populates again, so absolutely 1% of my account size 10,000 pounds is $100. That's what I am personally prepared to risk on this trade if it doesn't work out, and I get to For 80 pips, what does that mean in units and lotso. Because units are used for our C trader platform, and lots are used for the MT four platform. So we don't really need to understand them that much, all we need to do is copy and paste them depending on the platform we are using. So I've got both platforms open at the minute. So I'm going to do the C trader first.

So I'm concerned about units. So it's 12,500 units. I'm literally copying that. And I go to my C trader platform, as we see here. Now there are two ways to take a trade you can either execute via a very quick off the charts, fast execution, as we see here. If you're doing that, you just simply click on this box here where you see the volume, highlight it, and then paste that figure in and click on Enter.

Now you can see I've got 12,500 units of volume that I will be trading on this particular trade Also, you can go to the left hand side here, right click on top of it and go to create new order. And then you'll see that the volume is listed here, same thing applies, click on that there, delete it, and paste in the figure. And that will auto populate. Now you've put in that figure correctly. So very, very simple process, put your information in on the online calculator, copy the volume or the unit and paste it into your order ticket, knowing that you've got your position absolutely spot on. So that's for the C trader, what about mt four, so mt four, they're concerned with lots.

So we do the same process but we copy this particular element here, we copy it, and we go to our mt four platform. Same thing applies, you can either have the on chart version, so just here. So we've got the on chart version, this little box here relates to our volume. So if we again highlight that, delete it and then paste figure in has now adjusted it to the correct position size. When I click on either sell or buy that will execute me into the trade at naught point one to have a standard lot the position size that I want. Same thing applies You can also create a new order if you're not using the off the charts version.

Same thing applies you go to the volume, which is the box here, highlight it Ctrl V or paste into that box there. Now you know that when you click on sell or by going into a position at the desired trade sites one thing to just clarify is sometimes you'll have a an account currency in a different denomination. So for example, if you're in the UK, you might have it denominated in pounds. The only additional element you'll get is it'll ask you for the current pound dollar ask price or another pair just so it can do the exchange because lots are dollar bass. So what it will need to do is it will need to do all the exchanges in the background to work out your position size based on your pound account. So again, very, very easy.

In this example here, it's asking me for what the current pound dollar ask prices. So all you do is you go to pound dollar such as here and you work out what the current price is which in this example here is 1.5494. So do 1.5494 now calculate, it gives me a slight adjustment. So it's given me the ability to put a slightly larger lot size because it's calculated my pounds into dollars using the pound dollar exchange rate. So that's if you have an account currency in a currency that anything other than US dollars, but as a whole, hopefully you can see now how easy and how powerful this position size calculator is because it does the process for you quickly gives you the ability to sanity check your calculations and more efficient Li gives you the ability to work out your position size before you take the trade, which obviously has its benefits for your speed of execution because you can put your, your information in, and then you're simply waiting for that economic news event.

So you'll wait for it. You'll have your news go and you'll have your score. And as soon as that comes through and your trade plan comes together, you're either clicking on buy or sell depending on the direction that you've already already agreed upon, without having to worry about working out your position size. So use it to your advantage and trade proactively with solid risk management principles.