The blog's been silent since Sunday which usually means I'm busy doing other things or concentrating on trading. That has definitely been the case this week. I've been participating in the forex trading contest, getting Metatrader primed and ready for backtesting expert advisors again, finishing the development of a new AJAX forex position size calculator, trading for real, and working my real job. Being busy is probably common for a lot of you out there too who are trading forex but have real jobs and responsibilities.
I've searched around for a forex position size calculator but what I mostly found were pip value calculators, excel calculators, or calculators that were part of some proprietary trading platform (like Oanda's.) I didn't find what I was really looking for which was a simple calculator that gave me a recommended position size in units and where I just had to enter my account balance, the percentage I want to risk on a trade and my stop loss. So this is exactly what I developed. It's completed and in beta at http://www.forexcalc.com. It currently only works with accounts in USD but I'll expand on that later. You have a choice of determining the position size for 110 currency pairs, way more than you'll ever need. It also works no matter what your account size is. It can be $1 or $10,000,000 though I doubt anyone with an account this big would utilize it.
