Hello guys,

I am trying to create a trading journal on Excel that tells me what Lot Size to take in order to risk only (let's take an example) 1% of my Total Capital.

I did some research and here is the formula :

Lot Size = (Account Balance x Risk Percentage) / (Stop-Loss in Pips x Value per Pip)

The problem is, in order to calculate the Value per Pip, I apparently need the Lot Size (according to the Value per Pip formula) :

Value per Pip = Lot Size x Quote Currency Pip

So it seems that I need the Value per Pip to calculate the Lot Size, but I need the Lot Size to calculate the Value per Pip. Here is my problem guys.

And by the way, how does Lot Size Calculator work then ? I was using the one form Myfxbook and it only needs the Risk Amount and the Stop Loss (in pips) to find the correct Lot Size...

Any help would be greatly appreciated !