How many lots should I trade if I only want to risk a set dollar amount on this stop distance?

How this is calculated

• This tool works backward from your dollar risk: it finds the pip value per pip that matches your risk amount divided by your stop distance in pips, then converts that pip value into a position size in units and lots.
• A pip is 0.0001 of an exchange rate for most currency pairs, and 0.01 for pairs where the quote currency is Japanese yen.
• When USD is the quote currency (pairs like EUR/USD), position size in units equals the required pip value divided by the pip size, since no conversion is needed.
• When USD is the base currency (pairs like USD/CAD or USD/JPY), the required pip value is first converted using the current exchange rate before dividing by the pip size.
• Standard lot equals 100,000 units, mini lot equals 10,000 units, and micro lot equals 1,000 units. The result shows all three so you can round to whatever your broker allows.
• Cross pairs where neither currency is USD, such as EUR/GBP or EUR/JPY, need a second conversion step that this calculator doesn't cover.