1.Position Size

• Select the currency of your trading account
• Input the balance of your trading account.
• Select the currency pair you are going to trade.
• Input the lot size (volume) you plan to trade with.

2.Margin

• Select the leverage on your trading account

This will display a margin value in the selected account currency. The box lights up red if a position cannot be opened or green if a position can be opened.

Changing these values will also change the margin value.

3.Profit/Loss

Choose either BUY or SELL to determine your trade direction, then enter the entry level, take profit and stop loss values which will give the profit and loss amount in the boxes below.

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New To Trading? Read Below To Understand Better:

Lot size

A lot size is the number of units of a financial asset you buy or sell in a single trade. In foreign exchange (forex) trading, a standard lot size is usually 100,000 units of the base currency, while mini, micro, and nano lots represent smaller quantities (10,000, 1,000, and 100 units, respectively).

Margin

Margin is the amount of money you need to deposit in your trading account to open and maintain a trade. It acts as collateral, ensuring that you can cover potential losses. Margin trading allows you to trade with more money than you actually have in your account, which can amplify your profits but also your losses.

Leverage

Leverage is a tool that allows you to trade with more money than you have in your trading account. It is expressed as a ratio, such as 1:50, which means that for every $1 you have in your account, you can trade $50. Using leverage can increase your potential profits, but it can also magnify your losses if the market goes against you.

Pip value

In forex trading, a pip (percentage in point) is the smallest price movement that can occur. The pip value is the monetary value of a single pip and represents the change in your trade's value for each pip movement. It depends on the currency pair you are trading, the size of your trade (lot size), and the exchange rate. Calculating the pip value helps you manage your risk and determine how much you could gain or lose with each pip movement.