What is the difference between the Forex position size calculator and the profit and loss calculator?

Though they do have similarities, these two calculators also have differences as well, which means that each is better suited to different types of traders, having different goals.

The profit and loss calculator is better geared for traders particularly interested in the amount of possible losses or gains from a specific forex investment, something which a position size calculator cannot measure. What it can do however, is to allow traders to determine their account size and risk ratio assumed, i.e. the percentage of their trading capital that they are risking for each trade. When using the profit and loss calculator traders can see the amount under risk in each trade and the associated position size expressed both in currency units as well as standard lots.