In simple English
This tool helps currency traders figure out how much money to risk on a single trade. It runs inside MetaTrader, a popular program for trading foreign currencies. You set your risk limit as a percentage of your account balance. The tool calculates the exact number of lots to buy or sell. It also places the trade for you with your stop loss and take profit already attached.
What it is
Position Sizer is an expert advisor (an automated script that runs inside the MetaTrader trading platform) for MetaTrader 4 and MetaTrader 5. It computes lot sizes based on account equity, stop loss distance, and broker commission rules.
What it is good for
Traders who want to stop calculating lot sizes by hand and prevent losing too much money on a single bad trade.
- Calculates exact lot sizes based on your personal risk tolerance.
- Works on both MetaTrader 4 and MetaTrader 5 platforms.
- Accounts for broker commissions, swaps, and margin requirements.
- Requires the proprietary MetaTrader platform to run.
- Written in MQL5, so editing the source code requires specialized knowledge.
- Mistakes in risk settings can still lead to financial loss.
manual calculation of lot sizes on a calculator or spreadsheet
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Download the compiled expert advisor file from the official website and place it in your MetaTrader MQL folder.