How to Calculate Position Size When Forex Trading ????

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How to Calculate Your Position Size in Different Forex Pairs and Account Currencies financial-spread-betting.com/Trade-risk-size.ht… PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! In the UK we have spread betting and this medium of trading has a number of advantages one of which is that prices are quoted in GBP per point. As such your position size and your profits and losses are relatively easy to assess.
However, if you're trading in a 'normal' forex account - let's say you're trading in USD and you're trading something like EUR/GBP, how do you calculate the profit or loss?

Steps:
1) Determine the risk in USD
2) Convert risk to GBP
3) Convert GBP to PIPs
4) Calculate position size.

Note that in the past spot forex was only limited to specific amounts referred to as lots (which would be the number of currency units you would buy or sell) . The standard size for a lot is 100,000 units of currency but these days we also have mini (10,000), micro (1000), and nano (100) lot sizes.

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