Top 6 Free MT5 Position Size Calculators For Risk Reward Ratio

Why Use a Calculator?

Let’s face it, even Warren Buffett sizes his positions carefully. Here’s why you should too:

• Discipline, my friend, discipline. These calculators take the emotion out of the equation. You set your risk parameters, and the calculator spits out the perfect position size for your trade. No More drawdown , No more eyeballing it and risking your entire account on a hunch.
• Avoid the Margin Call Monster. Nobody likes getting a margin call. These calculators help you ensure you have enough capital to cover potential losses, keeping you safe from the dreaded margin monster.
• Say goodbye to mental math meltdowns. Focus on your trading strategy, not wrestling with complex calculations. These tools do the heavy lifting for you, freeing up your mental bandwidth for analysis.
• Consistency is key. These calculators help you develop consistent position sizing habits and avoiding Grambling. No more going all-in one trade and playing it safe the next. Consistency is crucial for long-term success.

Cons of Ignoring Position Sizing

Think you can wing it without a calculator? Buckle up, because here’s what awaits you:

• Account Obliteration City. One bad trade with a giant position size, and boom, your account goes from hero to zero faster than you can say “FOMO.”
• Psychological Warfare. Fear and greed cloud your judgment when your hard-earned cash is on the line. Calculators help you stay objective and avoid making rash decisions.
• Trading Becomes a Casino. Without proper risk management, you’re basically gambling, not trading. These tools turn the odds in your favor.

Top MT5 Position Size Calculators

Now that you’re convinced (you should be!), let’s dive into some popular MT5 position size calculators:

1- Trade Position and Back Testing Tool MT5

Look, everyone wants to ride the tendie train to Flavortown, but without proper risk management, you’ll be derailed faster than a meme stock on a bad earnings report. That’s where this “Trade Position and Backtesting Tool” (catchy, right?) comes in. Think of it as your own personal Warren Buffet whispering sage advice in your ear, except instead of buying railroads, you’re conquering the markets.

 

This bad boy isn’t just some fancy calculator. It’s like a crystal ball for your trades, letting you see exactly where your entry, stop-loss, and take-profit levels land before you even hit that buy button. Plus, it does all the boring math for you, figuring out lot size and risk with the efficiency of a billionaire counting his stacks.

Here’s the nitty-gritty:

• Trade Previews: See your whole trade laid out before you commit, from entry price to that juicy TP level. No more surprises, just pure strategic domination.
• User-Friendly as Grandma’s Cookies: Automatic balance options and clear displays make this easier to navigate than a buffet line at a casino (minus the questionable food choices).
• Risk Management on Steroids: This ain’t your basic calculator. We’re talking advanced risk-to-reward ratios that let you customize your stops and profits like a boss for reducing drawdowns.
• Smart Info, No Fluff: Need to know your lot size or order type? This tool throws it all at you, clear as day.
• Auto-Adjusting Magic: Move your stop-loss? Don’t worry, the risk adjusts automatically, keeping you one step ahead of the market.
• One-Button Wonders: Feeling lazy? Snap your trade right to the current price with a single click. Plus, a handy hotkey lets you hide or show the tool in a flash.
• Backtesting Like a Champ: Test your strategies on historical data and see how they would have performed before risking real cash. Think of it as a practice round before the main event.

Download Here

2- Mercurial Position Sizing Trade Manager

This bad boy ain’t your average, run-of-the-mill EA (Expert Advisor). It’s like having a Jedi Master whispering risk management wisdom in your ear. Here’s why you gotta download this free gem right now:

• Stop the YOLO Madness: Risk only a set percentage of your account on each trade. No more blowing your entire wad on a hunch. This EA enforces discipline like a drill sergeant.
• Ditch the Calculator: Tired of fumbling with pip values and position sizes? This EA does the math for you, faster than you can say “compound interest.”
• Trading Like a Boss: Set your stops and profits, click buy or sell, and watch the magic happen. This EA makes executing trades smoother than butter on a hot waffle.
• Precision Pending Orders: Got a specific entry price in mind? No problem. This EA lets you place pending orders with pinpoint accuracy, so you can snag those perfect setups.
• Built-in Bodyguard: Worried about surprise losses? The EA’s got your back. Its break-even protection automatically adjusts your stop-loss to shield your hard-earned cash.
• Live Trade Stats: Stay on top of your game with real-time position information. See your profits and losses in both USD and points, so you can always track your progress.

Download Here

3- Risk to Rewa Ratio calculator MT5

A built-in tool or downloadable add-on for the MetaTrader 5 trading platform that helps you assess the potential risk and reward of a trade before you enter it. Think of it like a built-in trading advisor whispering risk management wisdom in your ear.

Here’s why it’s so handy:

• Smarter Trading Decisions: This calculator helps you compare the potential loss (distance to your stop-loss) with the potential profit (distance to your take-profit). This gives you a clear Risk-to-Reward Ratio (RRR), allowing you to judge if the potential reward justifies the risk involved. No more going in blind!
• Easy to Understand: Most calculators display RRR in two ways: pips (the smallest price movement for a currency pair) and as a percentage of your account balance. This caters to all experience levels, making it easy to understand the risk at stake.
• TradingView Inspired Interface: Some calculators boast a TradingView-style interface. This means the information is presented in a clear and visually intuitive way, similar to the popular charting platform. No need to be a math whiz to understand your RRR – a quick glance tells you everything.

Download Here

4- Trade Panel Pro by RunwiseFX MT5

Think of it as your personal trading cockpit, putting all the essential tools and automation at your fingertips.

Here’s what makes Trade Panel Pro a game-changer:

• Effortless Position Sizing: No more manual calculations or guesswork. This panel offers flexible lot size calculation based on a percentage of your account, a fixed amount, or even dynamic lots. You’re always in control.
• One-Click Trading: Lightning-fast execution with a single click. No need to fumble through multiple windows, perfect for those quick entries and exits.
• Stealth Mode Activated: Deploy hidden stop-loss (SL) and take-profit (TP) orders to keep your strategies under wraps and avoid getting picked off by the markets.
• Partial Close Control: Want to lock in some profits while keeping a portion of your trade open? Scale in and out of trades with ease, managing your position size strategically.
• Auto-Pilot Engaged: Let the panel handle the heavy lifting with automatic SL/TP based on risk-reward ratios, pips, or even specific amounts. Free yourself to focus on analysis and chart patterns.
• Hidden Power: Don’t be fooled by appearances. Hidden pending orders can be set to trigger based on market price or candle close, giving you even more control over your entry strategy. Plus, set expiry times and leverage the power of One Cancels Other (OCO) for automated order management.
• Scale Like a Boss: Open additional positions (scale in) with ease, or even set it to automate based on reaching your target profit.
• News at Your Fingertips: Stay informed with built-in news feeds (text and visual indicators) so you can react to market events in real-time.
• Multi-Tasking Master: Want to manage multiple trades simultaneously? No problem! The panel allows for multiple trades and pending orders on the same chart, each with independent SL/TP settings.
• Customization is King: Tailor the panel to your specific needs. Configure it on a per symbol and timeframe basis, so you can have different SL settings for different assets or time horizons.
• Information Overload? Not Here: Stay informed with essential indicators like multi-timeframe trends, support/resistance levels, pivots, and volatility gauges. Plus, keep an eye on current spreads and bid/ask prices displayed prominently.
• Detailed History: Track your trading journey with comprehensive logs. The panel records trades including execution time, slippage, and profit, all conveniently stored in a spreadsheet file.
• Built to Last: This panel has been battle-tested, with the underlying code base in active use since 2015. You can be confident it’s a reliable companion for your trading endeavors.
• Bonus Feature: Download a configuration from the RunwiseFX library to gain a handy “Close All Trades” button for complete account management.

Download Here

5- XA Risk Reward Ratio Tool MT5

It is here to be your knight in shining armor, offering a powerful and user-friendly solution for risk management.

• Professional-Grade Risk Calculation: This tool goes beyond basic risk assessment. Its sophisticated algorithms analyze your trade and calculate the potential risk with pinpoint accuracy, ensuring you enter each trade with a clear understanding of the downside.
• Precision Take Profit & Stop Loss: No more guesswork! XA Risk Reward Ratio Tool helps you determine optimal Take Profit (TP) and Stop Loss (SL) levels with incredible precision. This helps you maximize potential gains while minimizing potential losses.
• One-Click Wonder: Streamline your trading workflow with the power of one-click execution. Execute trades, cancel positions, set position size, and define entry points, TP, and SL – all from a single, convenient location.
• All-in-One Toolbox: This tool isn’t just about risk. It offers a comprehensive suite of features to manage your trades effectively. Set opening points, adjust TP and SL on the fly, and even cancel positions with a single click.

6- Trading Manager MT5

feeling overwhelmed by managing multiple positions and calculations? Look no further than Trading Manager MT5, your one-stop shop for trade control and peace of mind.

Here’s what makes Trading Manager MT5 a game-changer:

• Trade Freedom: Trade any asset you desire, from forex pairs to stocks and commodities. This manager is your versatile companion across all markets.
• Position Command Center: Effortlessly manage your open positions. Set clear Stop Loss (SL) and Take Profit (TP) levels to define your risk and reward parameters.
• Trailing Stop for the Win: Never miss a trailing stop opportunity! Activate this feature to automatically adjust your stop-loss as the price moves in your favor, locking in profits while minimizing risk.
• Fine-Tune Your Management: Take control of position updates. Choose how often you want the manager to refresh your position data, ensuring you have the latest information at your fingertips.
• Break-Even (BE) at Your Fingertips: Select the option to automatically adjust your stop-loss to the break-even point, protecting your initial investment when the price reaches your entry point.
• Flexible Position Sizing: Customize your position size to your risk tolerance and account balance. Choose from a fixed lot size or a percentage of your account balance for optimal capital allocation.
• One-Click Power: Need to close all your trades or cancel pending orders in a hurry? No problem! The manager empowers you to handle these actions with a single click, saving you valuable time and effort.

Online Alternative Calculator

There is free online calculators available on TradingSplash. This is handy for quick calculations, but remember, it will not integrate with your MT5 desktop platform.

FOREX LOT SIZE (POSITION SIZE) CALCULATOR

Here’s the bottom line: MT5 position size calculators are essential tools for any serious trader. They help you manage risk, stay disciplined, and ultimately, become a more profitable trader. So ditch the napkin math and embrace the calculator revolution. Remember, it’s not about getting rich quick, it’s about building a sustainable trading career. Now go forth and trade wisely, my friends!

Pro Tips for Mastering

Alright, you’ve got the basics down. But there’s always more to learn when it comes to taming the risk beast with MT5 position size calculators. Here are my pro tips to elevate your game:

1. Factor in Account Size and Experience:

• New traders: Start with a lower risk percentage (maybe 1-2%) until you gain experience and confidence.
• Seasoned traders: You can potentially handle a higher risk percentage (up to 5%), but always prioritize protecting your capital.

2. Consider Market Volatility:

• Volatile markets: Decrease your position size to account for the increased risk of larger price swings.
• Stable markets: You might be able to allocate a slightly larger position size, but don’t get greedy.

3. Backtest Your Strategies:

• Use historical data and your chosen position size to see how your strategy would have performed.
• This helps you refine your risk parameters and identify potential weaknesses before risking real capital.

4. Don’t Be a Copycat:

• Just because some guru online uses a 10% risk per trade strategy doesn’t mean it’s right for you.
• Tailor your risk parameters to your own risk tolerance and trading style.

5. Diversification is Your Friend:

• Don’t put all your eggs in one basket. Spread your capital across multiple trades to mitigate risk.
• The position size calculator can help you determine appropriate position sizes for each trade within your overall strategy.

6. Review and Adapt:

• Regularly assess your results and adjust your risk parameters accordingly.
• What worked yesterday might not work today, so stay flexible.

Remember: These calculators are powerful tools, but they shouldn’t be your only line of defense. Combine them with sound risk management practices, solid trading strategies, and a healthy dose of discipline to become a truly formidable trader.

Bonus Tip: Fake It Till You Make It (But Not Really)

Paper trading is your best friend. Simulate real-world trading with a demo account and use your position size calculator to get comfortable with managing risk before deploying your hard-earned cash.

By following these tips and utilizing the power of MT5 position size calculators, you’ll be well on your way to conquering the markets, one calculated trade at a time. Now get out there and make your ancestors proud (with responsible risk management, of course)!

Advanced Techniques

Alright, you warriors of risk management, we’ve covered the essential tools and tactics. But what if you crave a deeper dive, a descent into the advanced mechanics of MT5 position size calculators? Buckle up, because we’re about to enter the realm of the real degenerates (used affectionately, of course).

1. Customizing Risk Calculations:

The default calculators often use a simple percentage of your account balance for risk calculation. But what if you crave more nuance? Here’s where it gets interesting:

• Fixed Dollar Risk: Allocate a fixed dollar amount per trade, regardless of account size. This can be helpful for new traders building consistency.
• Kelly Criterion (Use with Caution!): This advanced formula factors in win rate and risk-reward ratio for a more dynamic position sizing approach. However, it’s aggressive and requires strict discipline to avoid blowing up your account. Research extensively before using it!

2. Advanced Order Types:

Most calculators focus on standard market orders. But what about fancy footwork like trailing stops or take-profit orders? Here’s the good news:

• Some advanced calculators allow you to factor in these order types for a more comprehensive risk assessment.
• This helps you visualize the potential impact on your overall risk profile before entering a trade.

3. Correlation and Portfolio Management:

Trading multiple instruments? Don’t just size positions in isolation. Consider the impact of correlations:

• If your trades are highly correlated (move in the same direction), you might want to reduce your total position size to avoid excessive risk concentration.
• Advanced calculators can help you analyze correlations and adjust position sizes accordingly for a more diversified portfolio.

4. Scripting and Automation (For the Coders):

For the real tech-savvy traders, there’s a whole new world to explore:

• The MQL5 programming language allows you to create custom position size calculators tailored to your specific needs and strategies.
• This opens the door for complex risk calculations and automated trade execution based on your defined parameters.

Remember: With great power comes great responsibility (Uncle Ben warned us all). Advanced features require a deep understanding of risk management and the inner workings of the markets. Don’t go diving headfirst into scripting unless you’re comfortable with the potential consequences.

The Final Word

MT5 position size calculators are a game-changer, but they’re just one piece of the puzzle. Remember, successful trading is about a holistic approach:

• Solid Trading Strategy: A well-defined strategy is the foundation of your trading decisions.
• Discipline and Risk Management: These are your shields and armor against the market’s volatility.
• Constant Learning and Adaptation: The markets are ever-evolving, so be a lifelong student of the game.

By wielding these tools wisely and honing your skills, you can transform yourself from a reckless gambler to a master of calculated risk. So go forth, conquer the markets, and remember: always prioritize your capital and never stop learning. Now get out there and trade with confidence (and a healthy dose of caution)!