Gold lot size calculator
Enter your balance, how much you want to risk and how far your stop is in dollars, and get the lot size for gold (XAUUSD), the stop and target prices for a buy or a sell, and the stop in pips and points.
The entry starts at gold's latest close in PropDrill's market data. Type your own price if it's different.
Stop and targets
| Buy | Sell | P&L | |
|---|---|---|---|
| Stop loss | 3895.00 | 3905.00 | -$1,000 |
| Target 1R | 3905.00 | 3895.00 | $1,000 |
| Target 2R | 3910.00 | 3890.00 | $2,000 |
| Target 3R | 3915.00 | 3885.00 | $3,000 |
Position size
2.00lots
200 oz
- Money at risk
- $1,000.001.00%
- Stop in pips ($0.10)
- 50
- Stop in points ($0.01)
- 500
- Value of a $1 move, 1 lot
- $100
How to calculate lot size for gold
One standard lot of gold is 100 ounces, so every $1 the price moves is worth $100 on one lot. That makes gold sizing simpler than most currency pairs, because there are no exchange rates involved:
Lots = money at risk ÷ (stop distance in $ × 100)
Money at risk is your balance times your risk percentage. The stop distance is the gap between your entry and your stop-loss price: buying at 3,900.00 with a stop at 3,895.00 is a $5.00 stop. The calculator rounds the result down to 0.01 lots, the smallest step at most brokers, so you never risk more than you meant to.
Worked examples
$100,000 account, 1% risk, $5 stop
Risk is $1,000. One lot loses $5 × 100 = $500 at the stop, so the size is 1,000 ÷ 500 = 2.00 lots.
$10,000 account, 0.5% risk, $8 stop
Risk is $50. One lot loses $8 × 100 = $800, so the size is 50 ÷ 800 = 0.0625, rounded down to 0.06 lots, which risks $48.
$50,000 challenge, $400 risk, $12.50 stop
One lot loses $12.50 × 100 = $1,250, so the size is 400 ÷ 1,250 = 0.32 lots.
Pips and points on gold
Gold is quoted to two decimals, like 3,900.35, and brokers don't agree on what to call each step. That's the main source of mistakes when traders copy a stop "in pips" from someone else:
| Move in price | Often called | Value on 1 lot | Value on 0.01 lots |
|---|---|---|---|
| $0.01 | 1 point | $1 | $0.01 |
| $0.10 | 1 pip | $10 | $0.10 |
| $1.00 | 10 pips, 100 points | $100 | $1 |
| $10.00 | 100 pips | $1,000 | $10 |
Thinking about the stop in dollars of price avoids the confusion altogether, which is why this calculator asks for it that way and then shows the stop in both pips and points. If your broker uses a contract other than 100 ounces, change the ounces per lot and the result follows.
Gold in a prop firm challenge
Gold is popular in challenges because it moves a lot, and that's also why it fails so many of them. A $10 swing, which gold can make in minutes around US data, is $1,000 on a single lot: 1% of a $100,000 account. Three things help:
- Size from the stop, not from habit. A lot size that was fine on EURUSD can be several times too big on gold. Work it out for every trade.
- Leave room under the daily loss limit. With a 5% daily limit and 1% risk, five losing gold trades in one session end the challenge. The daily drawdown guide shows how the limit is measured, and the drawdown calculator shows how much room you have left today.
- Watch the news. Gold reacts sharply to US inflation, jobs and interest-rate news. Spreads widen and stops can fill worse than planned, and some firms don't allow trading around high-impact releases at all.
For other markets, like forex pairs, silver and indices, use the position size calculator.
Questions
How many dollars is 1 pip on gold?
At most brokers a gold pip is a $0.10 move in price, and one standard lot is 100 ounces, so one pip is worth $10 a lot, $1 on 0.10 lots and $0.10 on 0.01 lots. Some platforms call $0.01 a pip instead, which makes it worth $1 a lot, so check which one your broker means.
How much is a $1 move in gold worth?
$100 on one standard lot of 100 ounces, $10 on 0.10 lots and $1 on 0.01 lots. A $5 stop on 1 lot therefore risks $500.
What lot size should I use for gold on a $10,000 account?
Risking 1% ($100) with a $5 stop gives 100 ÷ (5 × 100) = 0.20 lots. With a wider $10 stop it's 0.10 lots. The lot size always depends on the stop: the wider the stop, the smaller the position.
Why does gold need smaller lots than EURUSD?
A lot of gold moves much more in dollar terms. A normal day in gold can cover $20 to $50, which is 200 to 500 pips at $10 a pip on one lot, while EURUSD often moves 50 to 80 pips. The same lot size carries far more risk on gold.
Does the calculator include spread and commission?
No. It sizes the trade on the distance between entry and stop. Gold spreads are usually wider than on major currency pairs, often $0.20 to $0.50, so leave a little room for spread and slippage, especially around news.