all right first of all um happy Fourth of July but I'm gonna be busy today because it's the fourth and it's a holiday and if everybody else is taking taking days off so am I okay I'm gonna make this video and then I'm gonna leave all right um so we'll hair my mouth so we'll make this really quick today is going to be going over position sizing okay so we covered take profits we covered stop losses um and now I want to talk about figuring out what law size you want to use and there's essentially well there's three strategies there's using a set loss size for every single I'm about to throw that ball out bro boogies is driving me crazy Boogie come here where did you put it yeah this is mine you're done with this get on the bed and lay down oh bro's giving me a headache anyways sorry start from the beginning okay there's three different ways that you can do this okay you have you can use a set loss size that's what I use and I use a range of set loss sizes and we'll talk about that you can also calculate your loss size every single time okay so that's what we'll show how to do and then you can also full port which you will never do and if you do I will be very upset so third option is completely out of out of the picture Okay so we're gonna go over the second option right now which is calculating your own lot size so you are going to start off all right go find whatever lot size calculator you want okay there's a great app on the app store called stenu okay it's s-t-i-n-u not a sponsor not an ad um and this is what I used to use Okay so when you open it it'll look like this I don't know if you guys can see this that well but essentially it says account balance at the top risk amount and percent and then stop loss in Pips okay so all you do let's say we have a 1 000 account okay you type in a thousand up there and then let's say we want to risk one percent we type one in there and then let's say our stop loss is 30 Pips we type 30 in there and then we go to the next and then it gives you all the 4X pairs right there um this one unfortunately does not have the S P 500 that's why we have this thing up okay but this has all Forex pairs in cold including gold okay so what do you do let's say we're doing GBP USC you click GBP first and it gives you boom GBP slash above and then you could just click USC then you click calculate and it tells you the exact lot size that you should use to risk that amount for your account size super great app use that for Forex stuff I think it's like fourteen dollars you have to pay like a year to use it and if that's a lot of money to you guys you shouldn't be trading okay moving forward okay that's how you can do it on your phone to do it on the internet we have this nice little this this nice little website right here okay and I like using this site because it has the option for the s p okay and it has 4X pairs so two and one all right versus stenu doesn't have that okay so same thing on here let's say we have one thousand dollar account balance and let's say we have a 30 pip stop loss and we want to risk one percent all you do boom click calculate and then it throws you out a lot size so for this I would use 0. 03 Lots right because we can't use we can't go any farther past two decimal places okay so boom what are we risking ten dollars perfect okay let's say we want to do boom okay zero point okay so for this we would have to do a 0. 01 block size oops I said 200.
30. boom 0. 03 just like that super simple super easy this is how you can calculate your lot size okay and if you don't know what your stop loss is in Pips we'll make this really easy ready this is the easiest way to do it when you set up your short position tool okay see this number right here that is it that's your stop-loss and Pips so as we drag this right let's say boom our stop loss 11.
boom stop loss 47 Pips stop loss 16 Pips perfect boom 16 calculate plug it into your phone enter the trade boom we're good we know what we're risking super freaking easy okay moving forward to the s p this one gets a little bit tricky see how things changed so what I like to do is I like to switch it to stop loss and Pips okay so how did I do that okay I just go here boom switch stop loss of Pips and then you also have to click calculate lot size it um within mt4 or mt5 okay and we'll talk about this later the contract size um our unit size per lot I talk about all the time on Tick Tock videos because everyone's like oh this dude is doing a hundred Lots per trade no I'm not like you don't understand the difference between lot sizes like that just goes to show you don't know how this Works bruh okay but anyways S P 500 what's our account balance let's say it's a hundred thousand because whatever okay stop loss and Pitch same thing go to the s p boom boom boom boom okay what's our stop loss okay 1807 and yes that is correct because the s p is usually in points okay so usually it would be you know less than that pip is less than a point all right I don't want to explain that um any more than I have to okay and then moving forward right because the this it'll calculate it in Pips for you okay so boom this is this would be um four thousand seven hundred this one would be 789 okay got it cool moving forward go over here we don't care about the US pip size um we do care about the risks at what what your risk tolerance is okay and then now for the contract size per lot most offshore brokerages okay most of them are um are 100 units per lot okay so don't make that don't make the decision of like oh yeah I'm just going to go based off of what most are so we're going to teach you how to do it you're going to open up your little metatrader okay and then you're going to click on SPX right and then it gives you the option to trade chart or details you are going to click details and then from there you are going to find the line where it says contract size okay see on mine where it says contract size and then to the right of it it says 10 okay that means it's contract size 10 units per lot so that's what I'm going to plug in here if you have a different offshore brokerage if you don't use hanco trade odds are yours is probably going to be a hundred a lot of prop firms their con their units per lot is going to be 10. so make sure whenever you open a new account with a different brokerage with any different firm with anything you check this because this could really mess you up okay so boom 10 units per lot calculate it boom this is the lot size window I will I will be using just like that plug it in take a trade that is how you calculate lot size super freaking easy but it takes a lot of time so this is what I like to do right and this just takes kind of a little bit of time to start understanding yourself and how you trade but let's say right I have a relatively good feel for how I trade and I can kind of understand how large my stop loss is going to be most of the time or here let's pull it over here and like let's go more towards Market yeah okay so most of the time my stop loss on the S P 500 is anywhere from 400 Pips to like you know like four points to we'll say like I don't know like we'll for this example we'll just say Four Points to seven points okay so what do you do you go in here switch this to Pips okay let's say her account balance is still a hundred thousand dollars stop loss and points you're going to set your your minimum right like what's like usually the lowest your stop loss will will be during a trade okay so for me it's usually 400.
