Input Account Size: Enter the total amount of capital in your trading account.

Set Risk Percentage: Specify the percentage of your account you are willing to risk on the trade (commonly 1-2%).

Determine Stop-Loss Distance: Enter the distance of your stop-loss from the entry point in pips.

Select Currency Pair: Choose the currency pair you are trading, as pip values vary between pairs.

Calculate Position Size: The calculator will then output the appropriate position size in lots or units based on your inputs.