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Position size calculator

How many lots or contracts to trade, from your account, your risk and your stop.

How many contracts or lots should you trade? Enter your account, how much you'll risk and where your stop is. Works for gold, futures, forex, crypto and stocks. Free, no sign-up.

Risk per trade
Stop loss

Position size
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Planned risk– Actual risk after rounding– Value per 1.0 move– Stop distance– 1R target– 2R target– 3R target–
Size every trade automatically. The Wharf works out your size, tracks your prop firm's drawdown and daily loss limit live, and charts every trade for you.
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How to use the position size calculator

  1. Pick your market. Each market has a different value per point, which is the biggest reason traders get their size wrong.
  2. Enter your account size and risk. Risk is how much you're willing to lose if your stop is hit, as a percentage of the account or a fixed dollar amount.
  3. Enter your entry and stop, or just the stop distance in points or pips.
  4. Read your size. It's rounded down so you never risk more than planned, and the actual risk after rounding is shown underneath.

The position size formula

Position size = Risk ($) ÷ (Stop distance × Value per point of 1 contract)

Example: on a $50,000 prop account risking 1% ($500), with a $5 stop on micro gold (MGC, $10 per $1): $500 ÷ ($5 × $10) = 10 contracts. The same trade on full-size GC ($100 per $1) is 1 contract, and on XAU/USD it's 1.00 lot.

Value per point, by market

MarketSize of 1 contract / lotValue of a 1.0 move
XAU/USD (gold)1 lot = 100 oz$100 per $1
MGC micro gold10 oz$10 per $1
GC gold100 oz$100 per $1
MES / ESMicro / E-mini S&P 500$5 / $50 per point
MNQ / NQMicro / E-mini Nasdaq-100$2 / $20 per point
MYM / YMMicro / E-mini Dow$0.50 / $5 per point
MCL / CL100 / 1,000 barrels$100 / $1,000 per $1
EUR/USD and other xxx/USD pairs1 standard lot = 100,000 units$10 per pip

Contract specs are the standard CME and spot forex values. Some brokers and prop firms use different lot sizes, so check yours.

Position sizing for prop firm traders

On a funded or evaluation account, the risk that matters is your daily loss limit and trailing drawdown, not just the account size. A common approach is to size each trade so that three or four losses in a row still leave room under the daily limit. For example, with a $2,000 daily limit, risking $400–$500 a trade keeps you in the game after a bad run.

Questions

How do you calculate position size?

Divide the amount you're willing to risk by your stop distance multiplied by the value per point of one contract or lot. Risking $500 on MGC with a $5 stop: $500 ÷ ($5 × $10) = 10 contracts.

How much should I risk per trade?

Many traders risk 0.5% to 1% of their account per trade. Prop firm traders often size so several losses in a row stay well inside the daily loss limit. Choose a level that fits your own plan and your firm's rules.

What is one lot of gold worth per $1 move?

One standard lot of XAU/USD is 100 ounces, so about $100 per $1 move. MGC micro gold futures are $10 per $1, and GC is $100 per $1.

Why does the calculator round down?

Futures trade in whole contracts and forex in 0.01-lot steps. Rounding down means you never risk more than planned. The actual risk after rounding is shown under the result.

This calculator is a general tool for information only and isn't financial advice. Check contract sizes and margin with your broker or prop firm. Trading carries a high risk of loss.