Is my working out right

Prob been asked thousand times.

Example!!

£10000 account!

2 divided by 100 =0.02

0.02 x 10000 = £200 Max Risk

divide £200 by a stop loss of say 67

200 ÷ 67 pip (SL) = £2.98p or 2.98 lot size

So i would entre 2.98 lot size on MT4

I under stand this will change pending the account balance. I have placed a few trades and all is well. But want to be 100% it is right…

IF I’m reading what you wrote aright, You’re thinking that 2.98 Lots is the right amount to buy / sell !?

In rough terms 2.98 standard lots is risking $29.80 PER PIP ! Your £ 200 Risk is gone after a movement of around 8 Pips !

A standard lot is worth approx $10 per pip - not $1 as you seem to think !

(You can do your own conversion to £’s)

Thankyou for that…

Would it be 67 ÷ 200 which would give me 0.33 lots.

What would it work out if i only want to ise 0.02 % of 10000

No !

It’s $200 / 67 = $3 per lot (=your £2.98 in round terms)

But since std lot is $10, You need = ( $3/$10 ) You want 0.3 Lots - ie your answer is nearly right (by coincidence only) but your working is wrong.

BUT you need to confirm that the “Lots” you are speaking of are Standard lots - worth £10 per pip ! I cannot see your broker account and this is essential.

TRY IT ON DEMO ! until you get the hang of it properly.

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I recommend you use this site, every time before you enter a trade to calculate your risk.

https://www.myfxbook.com/forex-calculators/position-size

I recommend - you just do it on demo and work it out for yourself. !

It is really not hard and it is something every trader - even the very very newest, needs to be able to do in round figures, in their head without any doubt as to what their risk is !

just typing numbers into someone else’s spreadsheet - is simply Not helping you to learn !