After globe-trotting with Newbie Ned and walking through a few position sizing examples, you’re now well on your way to mastering the art of risk management.
But knowing how to calculate the right position size is only half the battle.
The other half? Discipline.
Don’t Ignore Discipline in Trading
Sticking to your stop losses and respecting your risk limits is what will keep your account alive long enough to catch those future winning trades.
Use a Position Size Calculator
We get it—sometimes you don’t have a calculator on hand, or your trading platform doesn’t offer a built-in position sizing tool. That’s why we at BabyPips.com went ahead and built one for you!
Say hello to your new best friend: the Position Size Calculator.
Pretty awesome, right?
Be smart and use this tool every single time before you enter a trade. No exceptions.
As the saying goes:
“It’s better to be safe than sorry.”
(Especially when your hard-earned money is on the line!)