I am using a demo account for now in Forex, and I am now trying to work out how I am going to proceed with money management and leverage.

I would like to use 0.80% as my bankroll risk, and 1% as my profit target per trade.

My question is if I am looking for that 1% minimum profit target per trade, do I trade on a speficif pip amount per trade? I know how much of my account I want to risk per trade, and which pairs I want to trade, but how do I work how how much of a currency to buy according to my balance and risk/reward targets? I think there is some sort of calculation that I am missing.

So if my balance was $2,500, and I wanted to make 1% of that ($25), and I wanted to risk 0.80%, and GBPUSD was 1.32540 for example, how do I calculate how much to buy and where to set my stop and take profit?

Thank you for any help or information.

Kind regards,