The use of fundamental and technical analysis of the situation on the Forex market does not give an absolute guarantee of successful trading. The basis for a stable profit is capital management. This is the exact planning of the transaction, based on the following data:
- •limit the maximum loss on the transaction, the value of stop-loss;
- •the size of the estimated stay, the establishment of take-profit;
- •the choice of lot size.
These figures are difficult to calculate manually. There may be confusion resulting in losses. The Forex calculator comes to the aid of the trader. This is an elementary program that allows you to determine the price of the item, the value of the pledged margin, swap, spread. When placing a large number of positions on the market, the calculator is simply irreplaceable. A trader who trades several currency pairs, especially on small timeframes, sometimes makes several transactions per minute. They are often multidirectional, so they require optimal calculation. You can use the calculator from any country, including India.
The trader enters the data:
- – currency pair;
- – the transaction value of;
- – leverage;
- -stop loss, take profit levels;
- – balance of your trading account.
The calculator calculates the options of the transaction, gives the result to the trader. It remains only to make a decision. If the risk as a result of calculations looks unreasonably high, there is an opportunity to correct the data. For example, lower leverage or lot volume.
Advantages of Forex calculator
- 1. The absence of mathematical errors in computations. The program includes up-to-date data on all currency pairs.
- 2. The calculation is made in a fraction of a second. Allows you to make quick decisions in a limited time. According to research, the calculator saves eighty-seven percent of a trader’s time when planning a trade and entering a market position.
- 3. Simple risk control in trading.
A balanced approach to trading, the use of a working strategy, the use of a Forex calculator will allow You to make successful transactions on the currency exchange.