Range Of Forex Calculators
We've developed a unique range of calculators which will aid our traders' performance. Each one has been carefully developed with traders' needs at the forefront of our development goals. Within this collection is a: position size calculator, margin calculator, pips calculator, pivot calculator and currency calculator. It's imperative that traders familiarise themselves with several of these calculators, as they can aid the development of a trading plan and strategy, with risk and exposure at the forefront of that plan. These calculators can also help traders to avoid basic errors, for example; miscalculating position sizing by just one decimal point can increase the risk per trade significantly.
Margin calculator
An invaluable tool to control your market exposure with any given trade, this feature allows you to specifically calculate the margin you'll need in order to place a trade into the marketplace.
Example: if you want to trade the currency pair EUR/USD, at the quoted price of 1.04275, at a trade size of 10,000*, using leverage of 1:200 then you'll need to have $52.14 dollars in your account to cover that exposure.
*one lot equals 100,000 units.
Pip calculator
This simple tool will aid traders, particularly novice traders, in calculating their pips per trade.
Example: We'll use our EUR/USD example again; if you want to trade the major currency pair EUR/USD, at the quoted price of 1.04275, at a trade size of 10,000, then that's equivalent to one pip. Therefore you're risking one pip per point.
*one lot equals 100,000 units.
Pivot calculators
Many trading platforms will automatically calculate the daily pivot points, with this tool traders can calculate their own precise pivot points; the daily pivot point, resistance and support levels. You simply input the previous day's high, the low and the closing price for any given security. The calculator will then automatically determine the various pivot points. These key areas are critical points where many traders will position themselves, perhaps in terms of: entry, stops and take profit limit orders.
Position calculator
Another vital tool for experienced, or novice traders, this calculator is essential for managing your risk per trade and monitoring your overall exposure into the market.
Example: Once again using our standard EUR/USD currency pair. You want to only risk 1% of your account per trade. You want to have your stop only 25 pips away from the current price. You have an account size of $50,000, therefore you'll be using a position size of two lots. In effect you'll be risking $500 on the trade, should your stop loss be activated this will be your loss.
*one lot equals 100,000 units.
Currency converter
Perhaps the simplest and no doubt the most familiar of our trading tools, the currency convertor allows traders to perhaps convert their domestic currency into another currency.
Example: If you want to convert €10,000 to $10,000 the result is 10,437.21USD. On the basis that 1 EUR = 1.04372 USD and 1 USD = 0.958111 EUR.
