Hi George,
I use a pip calculator. Here is the link;
https://www.babypips.com/tools/position-size-calculator
Risk is calculated as a percentage of the account balance. For example, $1000 account with a 1% risk would mean you would risk $10.00. So if you are trading 2 Expert Advisors set the risk for each EA at $5.00 or 0.5%.
Alan,