Expert Advisor for MetaTrader 5
The MT5 trade manager that sizes every lot for you
Drag your stop loss on the chart and the Trade Manager calculates the lot size, places the take profit, moves you to break even and locks trading when you hit your daily loss limit.
From $9 a month per account, or $399 once for 10 accounts.
- Prop firm and funded accounts
- Any MT5 broker
- Forex, gold and indices
Lot size calculator
Free, for forex and gold. USD account.
- Amount at risk
- $100
- Target at 1:2
- $200
- Units
- 20 oz
Drag the red line or type a stop. Lots are rounded down to 0.01 so you never risk more than planned. Gold uses a 100 oz contract; check your broker's contract size.
How to calculate lot size
Every position size calculator uses the same formula. Decide how much of your account you are willing to lose, then divide it by what one lot loses at your stop loss.
Lot size=Balance × Risk %Stop loss × Value per lot
EUR/USD
$10,000 account, 1% risk, 20 pip stop. One lot is worth $10 per pip.
$100 ÷ (20 × $10) = 0.50 lots
Gold, XAUUSD
$10,000 account, 1% risk, $5 stop. One lot is 100 oz, so $100 per $1 move.
$100 ÷ ($5 × $100) = 0.20 lots
See it on a live chart
The full walkthrough: installing the EA, setting your limits and placing a trade.
What it does on your chart
A trade panel for MT5 that handles the maths and the rules, so you only make the decision.
Size every trade
Position sizing happens on the chart, before you click.
Drag and drop entry and stop loss
Set your entry and stop loss by dragging lines on the MT5 chart. No typing prices into the order window.
Automatic lot size calculation
Enter your risk, for example 1%. The EA measures the distance to your stop loss and calculates the exact lot size.
Spread buffer
The stop loss distance is adjusted for the live broker spread, so a spread spike doesn't take you out early.
Balance or equity risk
Calculate risk from your account balance or your floating equity, whichever suits your plan.
Protect the account
Hard limits that hold even on your worst day.
Daily drawdown limit
Set a daily loss limit in dollars or a maximum number of trades. When it is hit, the EA closes all trades and locks trading for the day.
Virtual capital mode
On a prop firm challenge, set the challenge size as virtual capital so risk is calculated from it rather than your actual balance.
Manage the exit
Profit-taking follows your rules without you watching.
Automatic take profit
Choose a risk-to-reward ratio such as 1:2 and the take profit is placed at exactly the right price.
Break even and trailing stop
Move the stop loss to break even at 1R, then trail profit step by step as price moves your way.
Price alerts and sounds
Hear a custom sound when price hits your entry, stop loss or take profit, or any alert line you place on the chart.
Pass the challenge by not breaking the rules
Most failed prop firm challenges come from one bad day. The Trade Manager enforces your daily loss limit mechanically: when it is reached, open trades close and new trades are blocked until tomorrow.
- Daily drawdown lock. Set it a little inside your firm's limit.
- Max trades per day. Stops the over-trading that follows a loss.
- Virtual capital. Risk is sized from the challenge size, not the balance.
- 09:14 EURUSD stopped out -$180
- 11:02 XAUUSD stopped out -$200
- 13:47 GBPUSD stopped out -$120
Set it up in MT5 in four steps
Download and install
Download the .ex5 file and copy it into your MT5 data folder under MQL5/Experts.
Load it on a chart
Refresh the Navigator panel, drag Trade Manager onto any chart and make sure Allow Algo Trading is ticked.
Set your safety limits
In the EA inputs, set your daily drawdown limit in dollars and the maximum trades per day.
Trade visually
Set your risk %, drag the red stop loss line to your invalidation point and click Execute Trade.
Questions traders ask
How do I calculate lot size in forex?
Lot size = amount at risk ÷ (stop loss in pips × pip value per lot). For EUR/USD on a USD account one standard lot is worth $10 per pip, so risking $100 with a 20 pip stop gives 100 ÷ (20 × 10) = 0.50 lots. The free calculator on this page does this for you, and the Trade Manager does it automatically inside MT5.
How do I calculate lot size for gold (XAUUSD)?
With a standard 100 oz gold contract, a $1 move in price is worth $100 per lot. Divide the amount you want to risk by (stop loss in dollars × 100). Risking $100 with a $5 stop gives 100 ÷ (5 × 100) = 0.20 lots. Check your broker's contract size, as a few use different values.
What is the difference between a lot size calculator and a position size calculator?
Nothing. Both names describe the same tool: it turns your account size, risk percentage and stop loss into the number of lots to trade.
Is there a lot size calculator for MT5?
Yes. The Trade Manager is a lot size calculator and trade panel that runs inside MetaTrader 5. You drag the stop loss line on the chart and it calculates and places the trade with the correct lot size.
Does the Trade Manager work on prop firm accounts?
Yes. It works on funded and challenge accounts on MT5. The daily drawdown limit closes trades and locks trading when your daily loss limit is reached, and virtual capital mode sizes risk from the challenge size.
Does the Trade Manager trade automatically?
No. It is a trade manager, not a trading robot. You choose when and where to enter; it sizes the position, places the stop loss and take profit, and manages break even, trailing and your daily limits.
Does it work on MT4?
No. The Trade Manager is built for MetaTrader 5 only.
How much does the Trade Manager cost?
$9 a month per trading account, or $399 once for a lifetime license covering 10 accounts. Both include free updates.
Stop sizing trades in your head
One revenge trade can undo weeks of progress. The Trade Manager sizes every position, enforces your daily limits and manages the exit, so the rules you set are the rules you trade.
- $9 a month per account
- $399 once, lifetime license for 10 accounts
- Free updates on both plans