Trading Tools at LMFX

Trading tools are blessings for traders and LMFX has blessed their traders with a bunch of these.These Forex calculators are essential; enabling trading to have comprehensive statistics on their trades.

By using these trading tools, a trader can easily estimate his/her profit or loss on the trades. Also, they can evaluate the margin requirements needed for secure trading. Besides, calculating the impact of particular positions with the different sizes is also easy with these trading tools.

Here are some of the most notable trading tools that are available at LMFX.

1. Fibonacci Calculator

By entering the low and high in their places, a trader can quickly calculate 4 basic Fibonacci support & the resistance retracement value at 61.8%, 50%, 38.2%, and 23.8%.

2. Pivot Point Calculator

A trader needs to input the current open price, close price, low price and the high price to successfully calculate Floor, Camarilla,DeMark’s, and Woodie’s pivot points. This will also give you the support & the resistance level.

3. Position Size Calculator

This is a free Forex tool that lets a trader compute the size of positions in lots and units for efficiently managing the risks. This calculator works with almost all of the currency pairs & crosses. For computing, a trader must input the account currency, account leverage, currency pair, and the volume or margin. If a trader wants to calculate the margin, he/she needs to input the volume. But when the traders need to compute the volume, the value of margin should be inputted.

4. Pip Value

By inputting the Account currency, the currency pair and the Position units, size, a trader can calculate the pip value.

5. Risk & Reward

Based on a trader’s Fibonacci retracements from the local bottom and peak, the risk & reward calculator can help the trader to compute the position’s best and suitable targets with their each rewards-to-risk ratios. This calculator is a very powerful and helpful tool for identifying the potential risks before the trader enters any position.

Fibonacci retracements (0.618 and 0.382) are determined to form the stop-loss, target,and entry levels. It is better for traders to enter the positions if and only if C, i.e. Current price is closer to 0.382 Fibonacci level.

6. Risk Percentage Calculator

In trading, knowing your risks is a must before you proceed. That’s why it is one of the most important trading tools that LMFX offers to their clients.

To calculate the lot size, a trader needs to input account balance, account currency, a percentage that he is willing to risk,the currency pair, stop loss price and open price.

7. Multitarget Calculator

This is another interesting tool for trading. It helps a trader to plan and execute the specific portion of the positions that should be closed at certain target levels to get the most profiting return-to-risk ratio.

Conclusion: Trading tools are developed for reducing the stress that involves calculation of different factors that are related to trading. LMFX thought this through and that’s why the Forex traders at LMFX are enjoying these amazing trading tools.