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AI Analyst
Connect your own ChatGPT to ask questions about your trades, journal and backtests. Only your data, and read-only unless you let it add and edit trades when you connect (e.g. from a screenshot of your platform).
Risks US$100.00 of the US$100.00 you planned (1% of the account)
Stop
20 pips · 200 points
Pip value, 1 lot
US$10.00
Point value, 1 lot
US$1.00
Pip value at this size
US$5.00
Risk per lot
US$200.00
Exact size
0.5 lots
Sizes are rounded down, so a full stop-out never loses more than you planned. Slippage on the stop can still add to it. Contract sizes vary between brokers, especially on metals; check your platform's symbol specification.
Position sizing sets how many lots or contracts to trade so that, if the stop is hit, you lose a fixed amount, usually a small percentage of the account (often 0.5%–1%).
Size = money you're willing to lose ÷ (stop distance × value of one point or pip per lot or contract).
How to spot it
Forex example: £10,000 account, 1% risk = £100. A 20-pip stop on EURUSD, where one standard lot is worth about $10 per pip, gives roughly 0.5 lots (before converting currencies).
Futures example: $50,000 account, 0.5% risk = $250. A 25-point stop on MNQ, worth $2 per point per contract, risks $50 per contract, so 5 contracts. On NQ, at $20 per point, the same stop is $500 per contract: too big for that risk.
How to use it
Decide the stop first, from the chart. Then work out the size from it, never the other way round.
Keep risk per trade the same, so one loss never matters much and results can be compared.
Prop firm accounts: size against the daily and maximum loss limits, not just the balance.
Common mistakes
Picking a lot size first and squeezing the stop to fit it.
Risking more after a loss to win it back.
Forgetting commissions and spreads, which add to the real risk.
