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. okay we calculate that boom 25 Lots perfect okay that is going to be our set lot size and you're probably saying well that doesn't make any sense well it does because that that means I'm going to be risking one percent if price hits stop right here that also means I'll be risking two percent of my account if price if we have a larger stop loss and price goes to eight points right let's let's say for one day we have a really large stop and it's an eight and it's an 800 pip an eight point stop loss that is two times my regular one percent risk so even if I have to have a larger stop loss it won't matter or it will matter I'll be risking two percent instead of one percent but since I'm on a live account I don't really care too much about percents because I just have that set loss size so it makes it super easy for me where I can just go boom plug it in enter the trade every single time because I know okay what happens if we have boom price all the way down here cool I'm risking three percent of my account okay this is why I like this so good because I have a great feel of what my average stop loss is going to be so I have a good good idea of like hey I'm probably going to be risking this much today and if it goes 2x that cool I'll be risking two percent and if it goes 3x that cool I'll be risking three percent most of the time it never goes to three percent risk which is why I like using set stop loss okay and something to keep in mind your set stop loss is going to be different for every single pair so that's something you have to figure out and if anything you guys should only be trading one pair right now anyways but okay keep that in mind understand that every pair is different every pair of stop loss is going to be wider smaller based on the volatility and the volume okay so understand that okay so that's how you do set lot size all right for me now now we'll get into like my tricky stuff you guys should not do this because you guys aren't even profitable yet turn profitable calculating lot size or using a cent lot size then come back to this and you know once you get a better feel for the market okay but this is what I do okay so I have my let's just say we used um this one what did it give us 25 okay boom normal risk 25 blocks oops my normal risk is 25 watts right because that's saying like Okay I'm okay risking this because like this that's a normal risk day okay what's the second option d-risk my dearest day 50 of my normal okay so that means like if we have high impact news if we have to wait for news to come out if there's like today this is or sorry yesterday I use my D risk lot size because I knew hey we had high impact news and today is the Fourth of July meaning it's a bank holiday price is probably going to be trash okay super super simple okay normal normal risk would be on like a day with no news a day with like news that won't really affect the market that much d-risk will be high impact news or like you know there's like something that I understand that will probably mess up the market so even if I'm like looking for a trade if I do end up taking a trade on that day I'll use my d wrist lot size and then we have the confident lot size which is I double it okay so that pretty much is putting me at risk to starting off at two percent potential to go to four percent and then potential to even go to up to what even would it be uh what six percent or eight percent I don't even know I'm tired okay but even then that's that's like that's like on a day with like no news I love the setup it's like all the biases are in line and that's what I'm doing you guys should never use this ever because you guys should never you guys don't have the confidence built up to use this again you guys should not be doing this but I'm putting this out here because I know I'll get karma I want to say yes okay so shut up all right this is it all right my normal risk is just one percent it's it's showing you it's the set lot size okay that I would use that's the normal risk d-risk is 50 of it confident is two times it simple as that you guys should never use a confident lot size you guys feel free to use normal or de-risk never use confident because you guys don't you guys don't have proof in the market that you guys are con that you guys have the ability to be confident like as sad as that sounds you guys don't have that so let's be realistic with each other okay so there you go that's how you calculate lot size hopefully you guys enjoyed this and you guys tomorrow when we do a trade recap and for the other boot camp video