Bet Size Calculator

[Enivid]

I followed this LINK and was able to open another LIVE account without depositing a single penny - it needs verifying to deposit monies. If you don't want to open a dummy LIVE account of your own for whatever reason - tell me how I can private message you my new log in details

I don't mind opening a dummy live account, but that link leads directly to ETX MT4 download. How do I open live account through that? I already have ETX MT4 installed.

I was trying to show that Risk Money divided by Reward Risk = Bet Size

OK, but 18.18/6.7 != 0.18. Besides, Risk Money is 2.70 according to your screenshots, not 18.18.

Open zip - On reflection it might just be the name that moves - I will look for other alternatives - Tomorrow - Goodnight

Yeah, it moves the chart comment. It is done automatically by the platform itself. I cannot use the comment field to output all that stuff - it does not support font color, size and position adjustment.

I would gladly implement a function to move everything down once the one-click panel appears, but currently there is no MQL function to detect the status of the one-click panel.

 

[Maverick]

I don't mind opening a dummy live account, but that link leads directly to ETX MT4 download. How do I open live account through that? I already have ETX MT4 installed.

Surely a man of Enivids calibre can figure that one out, without me providing a series of Dummy screenshots

1) Open MT4
2) Next
3) Yes, I agree - Next
4) Launch program after successful installation - Next
5) Finish
6) Next - Next . . .
7) Open an Account - Select New real account The important bit
8) Enter personal details and agree to subscribe to newsletters - Next

I canceled at this point - I only want so many accounts BUT don't be scared - it's not that difficult

I would gladly implement a function to move everything down once the one-click panel appears, but currently there is no MQL function to detect the status of the one-click panel.

Hey Ho . . . Personally I'm not bothered as I will ONLY be using it on Window 1. Was only trying to help other interested parties who will simply have to adjust Y 80 clicks down to accommodate.

Same goes for Ref post #18

There is a problem with it installed in Window 0 . . . Window 1 is still opening

Ref post #19

When Widow 1 first opens it is always too big at first.

I don't think it's possible. It looks like the height depends on the size of the current chart.

When installed in Window 2 it gets the size right first time as does Stochastic in Window 1 - see Window 2 SS

I'm so pleased with the end result . . . I framed it

Just got to re-name it BetSizeCalculator and move the name to the right 1 click

Yes I know that Risk Reward strictly speaking is the wrong way round BUT who cares - Risk is a 4 letter word (in more ways than one).

Any chance of some icing on the cake ?

If you could add to 1 after the Risk Reward result

Thank you


.

 

[Enivid]

Surely a man of Enivids calibre can figure that one out, without me providing a series of Dummy screenshots

1) Open MT4
2) Next
3) Yes, I agree - Next
4) Launch program after successful installation - Next
5) Finish
6) Next - Next . . .
7) Open an Account - Select New real account The important bit
8) Enter personal details and agree to subscribe to newsletters - Next

I canceled at this point - I only want so many accounts BUT don't be scared - it's not that difficult

Thanks! It really did open a real account. The problem is that I cannot make any test trades there. So, I would really need a working spread betting demo in MT4 for this.

 

[Maverick]

So, I would really need a working spread betting demo in MT4 for this.

H'mmm - I'm going to check out some of the other Spreadbetting brokers demo accounts cos I don't suppose for a minute that you feel like putting in some of your hard earned Moolah.

How big an account are we talking ?

--//--​

Well I have already asked for icing NOW I am after Cherries on the top - Yummeee !

It all started when I was trying to explain to myself, in preperation for when I encounter my friends next week, how the maths works.

It's so much easier when you bring the pips moved into the equation. Plus you can see it changing whilst moving the SL and TP lines - an added bonus.

Then I thought why not instantly see the proposed New Equity Balance.

And then I thought what about a small 'My Notes' area accessed in MetaEditor and yes a 'Sticky Note' on the side of the monitor has the same effect.

I thought 'My Notes' if what you say is true and the same doesn't work for all Spread Bet brokers

I was always taught 'If a jobs worth doing then it's worth doing properly'

Besides, not exactly stuck for space to the right in Window 1

One of the better things about this indicator, over the rest is the instant ability to see the "What if's" scenarios.

I sincerely hope that I am not asking too much of you and you are starting to think I am taking the Michael ?


.

 

[Maverick]

Spreadbetting DEMO account

Well as luck would have it the first broker I looked at seems to meet the requirements. Can't be 100% sure till the markets open and I try and place a bet

GKFX . . . which is where it all started for me.

Make sure you select Spreadbetting and when the email arrives have show images available otherwise you will be running around like a headless chicken trying to figure out where to download the MT4 . . . been there - done that !



.

 

[Maverick]

GKFX DM settings

Tested 5 so far with GKFX 1, 2, 3 & 5 decimal places

All work with a 10 DM setting - makes life easier

Have updated 'My Notes' on BARCUK to reflect this


To roughly calculate if you have the right Decimal Multiplier (DM)

Multiply the difference between Open Level (OL) and Take Profit (TP) ignoring the last decimal place (pips moved) by the Bet Size (BS) and it should be close to the Gain Money (GM).

Due to the rounding up and down of numbers it will seldom be exact.

The parameters of the Horizontal Line are to six decimal places - it all adds up to a discrepancy in the calculation. Right click on a line to access parameters.

If for example you are working with DAX (on GKFX) which is to 1 decimal place it would help make the calculation more accurate if you firstly adjusted the horizontal line parameters to 0 decimal place. Or, the AUDNZD (5) down to 4 decimal places etc etc

That's of course if you are really bothered by a few pennies difference here and there.

The idea is to approximate if the DM is set correctly.


.

 

[Maverick]

Houston we have a problem !

This is with ETX trading XAUUSD

I say OK BUT the Risk Money is rounding DOWN and the Gain Money rounding UP.

I realise the risk money is Acc Balance * Risk Percent BUT shouldn't SL pips * Bet Size = give the same answer. The reverse of establishing the Bet Size

Calculations I am using

Risk Money = Acc Balance * Risk Percent

Gain Money = Take Profit Pips * Bet Size

Risk Reward = Gain Money / Risk Money

Bet Size = Risk Money / Stop Loss Pips


Why can't it use the same Abacus as me


.

 

[Enivid]

You are right about Reward Money rounding issue, but there is an error in your screenshot example. If you consider the first decimal place as a point, it should 8 and 21.4 points, not 8 and 214 points. DM should be 100. DM = 10 ^ (number of decimal places in quote - number of decimal places in point). I should add that to description.

 

[Maverick]

You are right about Reward Money rounding issue, but there is an error in your screenshot example. If you consider the first decimal place as a point, it should 8 and 21.4 points, not 8 and 214 points. DM should be 100.

Sorry but we are both wrong

With three decimal places - ignore the 3rd - five decimal places ignore the 5th

Open Level: 1257.046 = 1257.05 = 125705

Stop Loss: 1257.846 = 1257.85 = 125785

Take Profit: 1254.908 = 1254.91 = 125491

125705 - 125491 = 214

125785 - 125705 = 80

I did actually go back to XAUUSD re-entered the figures then checked with the cross hair . . . DM = 10

DM = 10 ^ (number of decimal places in quote - number of decimal places in point). I should add that to description.

I have absolutely no idea what you are on about here


.

 

[Enivid]

Sorry but we are both wrong

With three decimal places - ignore the 3rd - five decimal places ignore the 5th

Open Level: 1257.046 = 1257.05 = 125705

Stop Loss: 1257.846 = 1257.85 = 125785

Take Profit: 1254.908 = 1254.91 = 125491

125705 - 125491 = 214

125785 - 125705 = 80

I did actually go back to XAUUSD re-entered the figures then checked with the cross hair . . . DM = 10

That's correct if your spread betting broker uses 0.01 as a point in gold.

I have absolutely no idea what you are on about here

That's very easy. Here's how you calculate correct DM value:

1. Find the number of decimal places in the quote (NDPQ) for a given trading instrument. E.g. if the quote looks like 123.456, the number of decimal places is 3.

2. Find the number of decimal places in broker's point (NDPBP) for the same trading instrument. E.g. if your broker uses 0.01 as one point, then the number of decimal places is 2.

3. Subtract NDPBP from NDPQ. E.g. 3 - 2 = 1.

4. Raise 10 to the power of the value calculated in the previous step. E.g. 10 ^ 1 = 10.

 

[Maverick]

That's correct if your spread betting broker uses 0.01 as a point in gold.

Would you believe it XAUUSD is the only one not listed - see NDPBP SS

and what about the indices and commodities ?

That's very easy. Here's how you calculate correct DM value:

1. Find the number of decimal places in the quote (NDPQ) for a given trading instrument. E.g. if the quote looks like 123.456, the number of decimal places is 3.

2. Find the number of decimal places in broker's point (NDPBP) for the same trading instrument. E.g. if your broker uses 0.01 as one point, then the number of decimal places is 2.

3. Subtract NDPBP from NDPQ. E.g. 3 - 2 = 1.

4. Raise 10 to the power of the value calculated in the previous step. E.g. 10 ^ 1 = 10.

So I wonder why all that I checked in GKFX (post #26) came back with a DM of 10

Speaking of which . . . Have you opened a GKFX demo a/c yet ?



.

 

[Enivid]

Would you believe it XAUUSD is the only one not listed

So?

and what about the indices and commodities ?

What about them?

So I wonder why all that I checked in GKFX (post #26) came back with a DM of 10

Speaking of which . . . Have you opened a GKFX demo a/c yet ?

Yes, I did and it looks like at least GOLDSB requires DM=1 to output bet size properly.

 

[Maverick]

Yes, I did and it looks like at least GOLDSB requires DM=1 to output bet size properly.

I'm getting the NDPBP from the Order drop down (SS) where are you getting yours from ?

NDPBP = 1
NDPQ = 3

3 - 1 = 2 x 10 = 20

I NEVER did like betting on Gold with GKFX - one of the reasons I moved on BUT they do offer more alternatives to currencies than ETX including a lot of Shares especially on their Live a/c


.

 

[Enivid]

I am getting NDPBP from the same source.

NDPBP = 1
NDPQ = 1

1 - 1 = 0
10 ^ 0 = 1

 

[Maverick]

Here's how you calculate correct DM value:

1. Find the number of decimal places in the quote (NDPQ) for a given trading instrument. E.g. if the quote looks like 123.456, the number of decimal places is 3.

2. Find the number of decimal places in broker's point (NDPBP) for the same trading instrument. E.g. if your broker uses 0.01 as one point, then the number of decimal places is 2.

3. Subtract NDPBP from NDPQ. E.g. 3 - 2 = 1.

4. Raise 10 to the power of the value calculated in the previous step. E.g. 10 ^ 1 = 10.

You won't be the first or the last to have called me stupid BUT referring to my GKFX 'Order' image in Post #33 the NDPBP to the right is 1 and to the left the chart clearly shows 3 decimal places for the NDPQ.

What am I missing

Be aware GKFX lists Gold differently to ETX


.

 

[Enivid]

What am I missing

The screenshot shows 3 decimal places on the chart of USD/JPY, not Gold.

 

[Maverick]

The screenshot shows 3 decimal places on the chart of USD/JPY, not Gold.

What a Plonker - sigh

Still not really sure how 0 to the power of 10 = 1 though (10 ^ 0 = 1 )

I can see how 10 ^ 1 = 10 however



.

 

[Enivid]

Still not really sure how 0 to the power of 10 = 1 though (10 ^ 0 = 1 )

0 to the power of 10 is 0.
10 to the power of 0 is 1. You can read more about exponentiation in this article.

The latest version of BSC I am working on will have an input for the difference between the numbers of decimal places in the chart quote and the bet point, so you won't have to do any exponentiation.

 

[Maverick]

The latest version of BSC I am working on will have an input for the difference between the numbers of decimal places in the chart quote and the bet point, so you won't have to do any exponentiation.

Superstar


.

 

[Maverick]

Offline charts

Even Enivid might have trouble with this problem. Over the weekend I was introduced to Renko Charts - they work on offline charts. Unfortunately the BetSizeIndicator doesn't seem to want to work on offline charts. It loaded OK in window 2 and I can drag the lines but the indicator won't update, tried right click - refresh to no avail. See attached SS

Any thoughts