Been using the basic MT4 calculator but it feels clunky for position sizing.
Looking for something that handles lot calculations better and shows risk/reward ratios clearly.
What do you guys actually use day to day?
Try the one on investing.com it works well.
Most online calculators are too slow when you need quick position sizing during live trading. I use a simple Excel sheet with formulas for account risk percentage, stop loss distance, and lot size calculation. Takes 30 seconds to set up and works instantly. For complex trades, Position Size Calculator by babypips works well but their interface loads slowly. The key is having something that calculates your exact lot size based on your risk amount, not the other way around.
I stick with the calculator built into my broker platform (IC Markets). Their WebTrader has a position sizing tool that updates in real time with current spreads.
For quick mental math during news events, I memorized a few lot size formulas. Like risking 2% on EURUSD with a 50 pip stop equals roughly 0.4 lots on a $10k account.
Used to rely on external calculators but they never matched my broker’s exact spreads and swap rates. That small difference adds up over hundreds of trades.