PipWardenFree tools
Free forex calculators
Work out lot sizes, pip values and what a losing streak really does to an account. Free, no sign-up, and built for phones.
Free toolPosition size calculatorWork out the lot size for a trade from your balance, the risk you accept and your stop. Forex, gold and index CFDs, rounded down to your broker's volume step.Free toolGold lot size calculatorFree XAUUSD lot size calculator. Enter your stop in dollars or pips, pick the $0.01 or $0.10 pip convention, and see the real loss at the stop after rounding down.Free toolPip value calculatorFind what one pip is worth for any lot size and account currency: 28 forex pairs, gold, silver, index CFDs and bitcoin, per 1.00, 0.10 and 0.01 lot.Free toolDrawdown calculatorFind the gain needed to recover any drawdown, how many losses in a row reach your daily or max loss limit, and the exact odds of a losing streak.Free toolForex market hoursIs forex open now? A live clock of forex market hours: the Sydney, Tokyo, London and New York sessions in your time zone, with daylight saving right all year.Free toolMargin calculatorWork out the margin a trade needs, the margin level it leaves and how far price can move against it before a stop-out. Forex, gold and index CFDs.Free toolRisk-reward calculatorWork out the risk-reward ratio of a trade from its entry, stop and target, with spread and commission included, and the win rate it needs just to break even.
Guides that use them
Risk managementHow to set a daily loss limit (and why it is not a hard cap)How to set a daily loss limit: size it against your risk per trade, decide what counts and when the day starts, and see why open trades can push a day past it.Risk managementWhat lot size for a $100 account? The honest mathLot size for a $100 account: 0.01 lot of EURUSD fits 1% risk only with a stop of 10 pips or less. The math, the balance each stop needs, gold and cent accounts.Risk managementHow to calculate lot size: the formula with forex and index examplesHow to calculate lot size, with worked examples for EURUSD, USDJPY, gold and NAS100: the formula, MT5's tick value, why you round down and when to skip.
Educational content, not financial advice. Forex and CFDs are traded on margin and are high risk: you can lose money, and more than your deposit with some brokers. Examples use made-up numbers and show no real results. Read the risk disclosure.