Simple study for calculate position sizing with define risk percent. The goal of this study is to eliminate excel/google sheet calculation and we can just calculate proper position size within chart.
How to use ------------- 1) Specific your trade side ( Long or Short ) 2) Define your Entry/Stop price. These values are important for position size calculation 3) Define your Target price, if you have one. 4) Define your risk percent per trade and some slippage + fee. Most top traders are recommend 2% risk per trade. And maximum risk is 6% per month/per concurrent positions. 5) Define your initial capital ( your money in portfolio )
Optional ------------- - Specific currency type for display purpose.
How to read the result ------------- 1) Position Size will tell you how big your position size per trade that match your specific risk percent. 2) You can check Risk-Reward ratio ( RRR ) to see if this trade is a good one or not, the Gurus are recommend RRR = 1.5 - 2.0 to win in a long run. 3) You can check your profit target and profit % per your capital if the target reach. Also you can check how much profit amount you'll get if target reach.