How To Easily Calculate Lot Size For BTCUSD, ETHUSD And Other Crypto Pairs On Bitcoin Accounts
Trading Forex and Crypto on Bitcoin funded accounts is part of my
Luckily, I’ve found an easy way to calculate lot size for Bitcoin accounts.
The process is simple (kind of).
Using This Position Size And Risk Calculator To Calculate Proper Lot Size On Crypto Pairs
Step 1: Choose the currency pair you are going to trade, for example BTCUSD, ETHUSD, LTCUSD, etc.
Step 2: Choose the Deposit Currency of your account: BTC for Bitcoin
Step 3: I like to use Stop Loss In Pips. So, if Stop Loss Price is showing, hover over Stop Loss Price and click “Switch to stop loss in pips. Now fill in the Stop Loss In Pips value.
Step 4: Fill in the account balance IN BITCOIN.
IMPORTANT: Many brokers use Bits or MBT as the unit of Bitcoin for the account. If this is the case, you must first change the Bits or MBT value into the Bitcoin value. You can easily do the conversion here: https://bitsusd.com/
Step 5: Enter the risk percentage.
Step 6: Determine lot size by Units.
Calculate Lot Size By Units
Different brokers may use different Lot Size to Units calculations, so I recommend getting a demo account funded in Bitcoin (Bits or MBT) and testing the calculations out for yourself on the broker you plan to use. (Do the calculations as above and make sure the amount risked on the trade equals the amount risked calculated above the denomination your broker is using, Bits or MBT).
This is how it works out for the broker I am using:
BTCUSD: Don’t move the decimal point. (If the calculator says 0.11 – use 0.11 lots)
ETHUSD: Move the decimal point 1 space to the left (If the calculator says 0.56 – use 0.05 lots)
LTCUSD: Move the decimal point 2 spaces to the left (If the calculator says 23.56 – use 0.23 lots)
The EASIEST Way To Calculate The Proper Lot Size
Look, all these calculations seem confusing. And trying to figure out the math when you are preparing to enter the market can add stress to an already stressful situation. Therefore, I recommend using SCRIPTS to place your trades.
SCRIPTS for Metatrader4, the trading platform I use, are very easy to use and do all the calculations for you.
- Drag and Drop the script on the chart
- Input the % of your account you want to use for the trade
- Input the stop loss and take profit values
- Hit OK
The Script places the trade with the proper lot size, stop loss and take profit levels.
I provide scripts for all my subscribers to make placing trades drag and drop simple.
The Broker I Use To Trade BTCUSD & ETHUSD
Interested In Getting Forex & Crypto Signals Sent Straight To Your Inbox Once A Trading Day And Duplicating My Success?
To Your Wealth,
Edward Lomax
