Bet Size Calculator

[Enivid]

The attached bet size calculator should solve all the issues we talked about:

1. Number formatting.
2. Margin calculation.
3. Offline charts.
4. Decimal difference as input vs. "10 in power of".
5. Rounding.

Be wary that margin calculation is not 100% accurate due to the platform's limitations. It shows roughly correct numbers which are off by a few cents per $ per bet.

 

[Maverick]

Looking Good

GBPUSD

Nice that you have left some space and not crowded it

Not that there is any shortage of space in it's own window

Still trying to figure out how the margin addition works and what it shows though

Overall an excellent indicator - Thank you very much Enivid for a job well done.

Pips Moved (Yellow) * Bet Size (Red) = Reward Money

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[Maverick]

Figured out how to use with offline charts

1) Apply the indicator

2) Move lines to approximate new position

3) Remove Indicator leaving the lines in place

4) Re-install indicator

5) Everything works as it should


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[Maverick]

Margin

Kept persevering and finally got the margin calculations to show. No idea why they wouldn't show before - One of life's mysteries !

Could you please explain Enivid what the figures represent and what influences them.

All that available space in Window 2 Could you not have the Margin to the right of the main calculations.

Please refer to my attachments

H,mmm - Just noticed I need an extra space in Bet Size

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[Maverick]

Differ from market price

Whilst I was preparing the SS for my above Margin post I encountered a difficulty.

"Please verify operation parameters and try again"

The reason being

"Open price you set must differ from market price by at least 5 pips"

Could this limitation be incorporated into the indicator when the settings are wrong ?

Save having to wait until you try and place the order to find out you entered something wrong.

In my SS I was trying to set up a Sell Limit instead of a Sell Stop -

But it does occur when trying to enter the Pending Order too close to the market price.

No reason why these Warning messages couldn't appear under the relocated Margin entries

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[Enivid]

Will probably add the stop level warning.

The margin values mean the following:
Bet Margin - the margin required to place the bet.
Future Used Margin - the value of the used margin after the bet is placed.
Future Free Margin - the value of the free margin after the bet is placed.
The number will turn red if it is going to be lower than the stop-out level.

 

[Maverick]

The margin values mean the following:

Bet Margin - the margin required to place the bet.
Future Used Margin - the value of the used margin after the bet is placed.
Future Free Margin - the value of the free margin after the bet is placed.
The number will turn red if it is going to be lower than the stop-out level.

So is there anyway of knowing the maximum amount of money you could put at risk . . . Risk Money Max

I'm thinking if there is not enough margin for the Risk Money entered you get a Warning.

Or is this part of what you already had in mind ?

I have always wondered what triggers the Bull Horn Warning when you try to place a bet BUT are not allowed for what ever reason.


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[Enivid]

The latest version of the bet size calculator is attached. It has improved margin warnings and also displays warning when stop-loss or take-profit is set too close to the entry price.

 

[Maverick]

The latest version of the bet size calculator is attached. It has improved margin warnings and also displays warning when stop-loss or take-profit is set too close to the entry price.

Very sorry to have to report - it doesn't work at least not as it should.

Moving the lines around gets it all confused and it refuses to play anymore.

Wish you had listened to me and put the Margin Information to the right.

Yes I agree it does have to be like this for the PositionSizeCalculator BUT not on BetSizeCalculator_sepwind where there is so much available space.

Can not make the text size any smaller than 11


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[Enivid]

Like how exactly it does not work? And what has text size to do with it?

 

[Maverick]

Like how exactly it does not work?

1) There are occasions when the initial installation will not work DEAD IN THE WATER on installation - Have to leave lines present remove and re-install.

2) Moving the lines can sometimes stop updating the calculator

3) Too Close doesn't show when EntryLevel (Open Price) is less than 5 pips from Market Price.

"Open price you set must differ from market price by at least 5 pips"

4) Reward Money is showing High (Bet Size * Take Profit Pips)

5) Bet Size is showing High (Risk Money / Stop Loss Pips)

6) Take Profit & Stop Loss pips need to show one decimal place for the sums to work when checking.

And what has text size to do with it?

As things stand it is taking up a lot of screen space especially when showing Margins. I wanted to see how much space could be gained by using a smaller text size.


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[Enivid]

1) There are occasions when the initial installation will not work DEAD IN THE WATER on installation - Have to leave lines present remove and re-install.
2) Moving the lines can sometimes stop updating the calculator

Not much I can do about that before I can reproduce this behavior.

3) Too Close doesn't show when EntryLevel (Open Price) is less than 5 pips from Market Price.

"Open price you set must differ from market price by at least 5 pips"

The indicator has no idea if you are going to use a pending order or a market one to enter the trade.

4) Reward Money is showing High (Bet Size * Take Profit Pips)

5) Bet Size is showing High (Risk Money / Stop Loss Pips)

I don't understand what you mean here.

6) Take Profit & Stop Loss pips need to show one decimal place for the sums to work when checking.

As things stand it is taking up a lot of screen space especially when showing Margins. I wanted to see how much space could be gained by using a smaller text size.

I'll try to address that soon.

 

[Maverick]

The indicator has no idea if you are going to use a pending order or a market one to enter the trade.

You have an option in inputs to select UseAskBidForEntry - So you MUST be going to place a Pending Order which you can't if you are closer than 5 pips.

I don't understand what you mean here.

See attachment

Bet Size = 6.84 (100 / 15 = 6.6666) Have just done the sum here and the answer is 6.67

Reward Money = 616.43 (90 * 6.84 = 615.60) (90 * 6.6666 = 599.99) (90 * 6.67 = 600.30)

Doesn't matter if you do the sums Mentally, Abacus, Calculator or Pen & Paper - The Results are different to that of the indicator.


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[Enivid]

You have an option in inputs to select UseAskBidForEntry - So you MUST be going to place a Pending Order which you can't if you are closer than 5 pips.

Why is that? I can set UseAskBidForEntry to true and still use a Market order to enter the trade.

Bet Size = 6.84 (100 / 15 = 6.6666) Have just done the sum here and the answer is 6.67

Because 15 is a rounded value. It's 100 / 14.6, which is 6.84.

Reward Money = 616.43 (90 * 6.84 = 615.60) (90 * 6.6666 = 599.99) (90 * 6.67 = 600.30)

Doesn't matter if you do the sums Mentally, Abacus, Calculator or Pen & Paper - The Results are different to that of the indicator.

OK, I will change the Reward Money to be calculated as TP pips * Bet size.

 

[Maverick]

I can set UseAskBidForEntry to true and still use a Market order to enter the trade.

You can try . . . but the broker won't let you place the bet. Either your on market price or you have to be a minimum of 5 pips away.

Fact is the indicator does not place the trade, it still has to be done manually.



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[Enivid]

You can try . . . but the broker won't let you place the bet. Either your on market price or you have to be a minimum of 5 pips away.

Fact is the indicator does not place the trade, it still has to be done manually.



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Market order is the entry at the market price - it cannot be away from the market price, by definition.

 

[Maverick]

I am obviously not putting it across very well and I am not sure how best to elaborate.

Unless UseAskBidForEntry is true then you should get a too close warning when closer than 5 pips with the entry line (aqua).

If you want to enter at market price UseAskBidForEntry must be set to true.

Unless UseAskBidForEntry is set to true (instant execution) - You must be going to set a pending order.

In fact might UseAskBidForEntry be better re-named as InstantExecution


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[Enivid]

I am obviously not putting it across very well and I am not sure how best to elaborate.

Unless UseAskBidForEntry is true then you should get a too close warning when closer than 5 pips with the entry line (aqua).

If you want to enter at market price UseAskBidForEntry must be set to true.

Unless UseAskBidForEntry is set to true (instant execution) - You must be going to set a pending order.

In fact might UseAskBidForEntry be better re-named as InstantExecution


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Sorry, but neither is true. You could assume that if UseAskBidForEntry is true, then trader is going for an instant execution, or if UseAskBidForEntry is false, he is going for pending, but neither is guaranteed. In both cases, any warnings would create a lot of confusion.

The best I can do, is create a separate input parameter for you (PendingOrder or something) to determine whether to give an entry warning or not.

 

[Maverick]

Sorry, but neither is true. You could assume that if UseAskBidForEntry is true, then trader is going for an instant execution, or if UseAskBidForEntry is false, he is going for pending, but neither is guaranteed. In both cases.

For the life of me I cannot understand why either scenario is not guaranteed. How can you change your mind without changing UseAskBidForEntry from True to False or vice versa.

The way I see it . . . if the Entry Level line is movable then you are going to set a Pending Order and should be warned off if you get too close.

Maybe best if I forget all about the 5 pip warning and accept the indicator as is - I'm banging my head against a brick wall here.

K.I.S.S


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[Enivid]

You know, probably you are right. I will try to revise the whole thing to come up with something that has all the warnings and is more simple than it is now.