A method for positioning a receiver in positioning means (S, MS), in which method code modulated signals transmitted by at least four satellites (SV1-SV4) and formed by an individual code for each satellite (SV1-SV4) is received, the code used in the modulation has been formed of a set of chips, wherein a signal modulated with said set of chips constitutes a code sequence which is iterated in the code modulation, at least one reference point is selected, whose position is substantially known, that information about the position of said at least one reference point and information on the location of the at least four satellites (SV1-SV4), which has been transmitted to the positioning means (S, MS) is received by the positioning means (S, MS), wherein at least the information on the location of each of the at least four satellites (SV1-SV4) to be used in the positioning and the location of said at least one reference point are used in the positioning of the receiver, characterized in that in the method, the position of said reference point is used as an estimated position of the receiver, wherein the method further comprises: - determining respective distances N ^ ms k between the at least four satellites (SV1-SV4) and the estimated position of the receiver in milliseconds and rounded off to the closest integer, - determining respective numbers N chip k and code phases (Δ chip k) of chips received after a change in the code sequence preceding the moment of positioning from each of the at least four satellites; - determining respective moments T ^ ToT k of transmission of signals received from each of the at least four satellites used in the positioning by subtracting from a real GPS time ( T GPS) the respective distances N ^ ms k between the respective satellites (SV1-SV4) and the estimated position of the receiver in milliseconds and the number N chip k and code phase (Δ chip k) of chips for each of the respective satellites, - determining estimated time data ( T̂ GPS) at the moment of receiving the signals, - determining a plurality of first distances ρ m k between the at least four satellites (SV1-SV4) and said reference point by the moment of transmission T ^ ToT k and the estimated time data ( T̂ GPS), - estimating a plurality of second distances ρ p k between the at least four satellites (SV1-SV4) and said reference point by determining the location of each of the at least four satellites (SV1-SV4) used in the positioning at the moment of transmission of the signal on the basis of said estimated time data ( T̂ GPS) and the estimated position, - calculating the position x ^ ̅ u of the receiver as well as the difference between the estimated GPS time ( T̂ GPS) and the real GPS time ( T GPS) at least partly on the basis of said plurality of first distances ρ m k and said plurality of second distances ρ p k, - determining respective distances N ^ ms k between the at least four satellites (SV1-SV4) and the estimated position of the receiver in milliseconds and rounded off to the closest integer, - determining respective numbers N chip k and code phases (Δ chip k) of chips received after a change in the code sequence preceding the moment of positioning from each of the at least four satellites; - determining respective moments T ^ ToT k of transmission of signals received from each of the at least four satellites used in the positioning by subtracting from a real GPS time ( T GPS) the respective distances N ^ ms k between the respective satellites (SV1-SV4) and the estimated position of the receiver in milliseconds and the number N chip k and code phase (Δ chip k) of chips for each of the respective satellites, - determining estimated time data ( T̂ GPS) at the moment of receiving the signals, - determining a plurality of first distances ρ m k between the at least four satellites (SV1-SV4) and said reference point by the moment of transmission T ^ ToT k and the estimated time data ( T̂ GPS), - estimating a plurality of second distances ρ p k between the at least four satellites (SV1-SV4) and said reference point by determining the location of each of the at least four satellites (SV1-SV4) used in the positioning at the moment of transmission of the signal on the basis of said estimated time data ( T̂ GPS) and the estimated position, - calculating the position x ^ ̅ u of the receiver as well as the difference between the estimated GPS time ( T̂ GPS) and the real GPS time ( T GPS) at least partly on the basis of said plurality of first distances ρ m k and said plurality of second distances ρ p k,