Risk Management:

Never risk more than 3% of your account per trade!

Risk Formula:

Account * % Risk = $ Risking

$ Risking / Pips Risking = Suggested Lot Size

For Example:

$1,000 * .03 = $30

$30 / 30 = 1.0

Move decimal over 1 point to get Lot size

1.0 -> 0.10

Proper risk management & consistency is the key to staying in the game and securing consistent profits. 

Check out the website for the Risk Calculator Excel available for purchase.