Free Trading Calculators
Plan the risk on every trade before you place it. Results update as you type. No sign-up, nothing stored.
Prop firm challenge calculator by Clarity Tracking
Enter a challenge's rules and your trading stats to see a safe risk per trade, your loss limits and an estimated pass rate from 4,000 simulations. Clarity Tracking is a WizardTrader affiliate partner.
Know the maths, then learn the method
Risk Management Basics explains how these numbers fit together in a real trading plan.
Each calculator, with a full guide
Every tool above also has its own page with a step-by-step explanation, worked examples and answers to common questions.
- Position size calculator
- Risk/reward calculator
- Pip value calculator
- Forex profit calculator
- Margin calculator
- Drawdown calculator
- Compounding calculator
- Fibonacci calculator
More free trading tools
- Forex market hours clock: which sessions are open right now, in your time zone.
- Economic calendar: this week's high-impact releases in your local time.
- Futures tick value calculator: tick values and P/L for ES, NQ, CL, GC and micros.
- Crypto liquidation calculator: where a leveraged long or short gets liquidated.
New to these terms? Start with our free trading guides or the trading glossary.
Why position sizing matters more than entries
Two traders can take the same trade and get very different results because of size. Risking a fixed percentage of your account on each trade, commonly 0.5% to 2%, keeps any single loss small and stops a losing streak from wiping you out. A 10-trade losing streak at 1% risk costs about 9.6% of the account; at 5% risk it costs about 40%.
The position size formula
Lot size = (account balance × risk %) ÷ (stop-loss in pips × pip value per lot). For a $10,000 account risking 1% with a 25-pip stop on EUR/USD, where one standard lot is worth $10 per pip: $100 ÷ (25 × $10) = 0.40 lots. The calculator above does this for any pair, including JPY and cross pairs.
Why losses are harder to recover than they look
A 10% loss needs an 11.1% gain to get back to even. A 25% loss needs 33.3%, and a 50% loss needs 100%. The drawdown calculator shows the recovery needed for any loss, which is why protecting capital comes first.
Frequently asked questions
What is a pip?
A pip is the standard unit of price movement in forex. For most pairs it is the fourth decimal place (0.0001); for pairs quoted in Japanese yen it is the second decimal place (0.01).
How much is one pip worth?
For a standard lot of 100,000 units on a pair quoted in US dollars, such as EUR/USD, one pip is worth $10. A mini lot (10,000 units) is $1 and a micro lot (1,000 units) is $0.10. For other pairs, use the pip value calculator.
How much should I risk per trade?
Many professional traders risk between 0.5% and 2% of their account per trade. Lower risk means smaller swings and a better chance of surviving a losing streak. Prop firm traders often risk less because of daily loss limits.
What is a good risk/reward ratio?
There is no single good ratio; it depends on your win rate. At 1:2 you need to win more than 33.3% of trades to break even before costs. The risk/reward calculator shows the break-even win rate for any ratio.
Are these calculators free?
Yes. All WizardTrader calculators are free, work in your browser and need no sign-up.