Voila..! That is a very important lesson for trading. However, it must be understood that it is not a recipe for success but only for limiting losses. Has anyone applied this? How has been the experience?
It is helpful for the traders as these type of calculators can help to save the time. I appreciate your contribution as it will surely help the traders in he form of money management as well. Keep it up!
WARNING: This takes no consideration of the Currency pair that you're trading the and the Currency that your account is in!!
See: "How to Calculate Your Position Size in Different Forex Pairs and Account Currencies"