Position Size Calculator
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Is it possible that you would ever try to make the tool able to actually place orders, as a buy stop with the calculated lot size and a stop loss to that order all from where the user has placed the order lines using the calculator, with with one click?
Doing this would make it much more then a calculator but also extremely valuable and time saving.
Seems like a big project to me but I really don´t know so that´s why I am asking and wondering if you ever thought about it.
Doing this would make it much more then a calculator but also extremely valuable and time saving.
Seems like a big project to me but I really don´t know so that´s why I am asking and wondering if you ever thought about it.
It's in the code:
MQL4:
PositionSize = RoundDown(RiskMoney / (StopLoss * UnitCost / TickSize + 2 * sets.CommissionPerLot), 2);
That can already be done with a script.
Ah yes the code...
I think I will have to draw up a dynamic money risk system so that if the market is trading between say 1.20001 and 1.30000, risk X amount. And if the market is trading between 1.30001 and 1.40000 then risk Y amount and so on. It won't completely maximise my risk for every trade but it saves me from having to actively manage it so much.
This may seem strange to some people why I'm so bothered by this but the fact is that, up to £50,000 the money with my broker is protected by the FSCS and I want to stay under 100 lots per trade, per market (I only trade GBPUSD). After 100 lots, leverage is lowered from 1:500 to 1:200 which would dramatically increase my total capital requirement to over £50,000 and therefore it will be unprotected (as well as increase my margin costs by 2.5 times).
I think I will have to draw up a dynamic money risk system so that if the market is trading between say 1.20001 and 1.30000, risk X amount. And if the market is trading between 1.30001 and 1.40000 then risk Y amount and so on. It won't completely maximise my risk for every trade but it saves me from having to actively manage it so much.
This may seem strange to some people why I'm so bothered by this but the fact is that, up to £50,000 the money with my broker is protected by the FSCS and I want to stay under 100 lots per trade, per market (I only trade GBPUSD). After 100 lots, leverage is lowered from 1:500 to 1:200 which would dramatically increase my total capital requirement to over £50,000 and therefore it will be unprotected (as well as increase my margin costs by 2.5 times).
Hi I use the legacy version of this calculator fantastic tool really helped me THANKS, I see there is a script as-well which I am unsure of what exactly it is, auto entry / exit ?? which i'm not interested in. But I am looking for a tool that can can automatically cut 50% of my position size at a take profit level as sometimes my targets are hit and I'm not quick enough or at the screen to cut manually can this script do this or is there any other tool that can be recommended THANKS
Chris,
Thank you for using our tool. Do you just want to partially close a trade at TP instead of a full-close? That would take creating a rather specialized expert advisor. You might consider trading without TP, setting price alert at the TP level instead, and then partially-closing manually when the alert triggers.
Thank you for using our tool. Do you just want to partially close a trade at TP instead of a full-close? That would take creating a rather specialized expert advisor. You might consider trading without TP, setting price alert at the TP level instead, and then partially-closing manually when the alert triggers.
Thanks for the reply yes I mean partially closing trade at a take profit level EG; cut 50% of lot size at target 1 or 1R value (= break even trade) to protect capital (instead of moving stop to entry point ) then I can let the trade run with 0 risk. if I'm trading 5m or 15m chart it can move quite quick and an order would execute better than me. Many thanks
OK so...I had some spare time earlier today and I hopped onto a demo account and installed the latest 2.02 PSC for MT4.
A few things I've noticed, I will list them below.
1) Every time I close and re-open MT4, the PSC does not re-appear where I left it. It seems to return to a default starting point which is the top left corner of my chart. And it starts maximised every time too.
2) Is there anyway to add a close indicator confirmation box of some sort? Or even move the 'x' to the other top corner away from the minimise and restore buttons? A few times today when I've gone to either minimise or restore the PSC I have accidentally clicked the little 'x' which completely removed the PSC from my chart.
3) When the 'Hide lines' option is activated, how about not allowing the script to place a trade until the lines have been re-enabled and are visible once again?
4) Another script tab bump : )
But overall a really fantastic job, well done and thank you.
A few things I've noticed, I will list them below.
1) Every time I close and re-open MT4, the PSC does not re-appear where I left it. It seems to return to a default starting point which is the top left corner of my chart. And it starts maximised every time too.
2) Is there anyway to add a close indicator confirmation box of some sort? Or even move the 'x' to the other top corner away from the minimise and restore buttons? A few times today when I've gone to either minimise or restore the PSC I have accidentally clicked the little 'x' which completely removed the PSC from my chart.
3) When the 'Hide lines' option is activated, how about not allowing the script to place a trade until the lines have been re-enabled and are visible once again?
4) Another script tab bump : )
But overall a really fantastic job, well done and thank you.
5) When the indicator has been attached to my chart and has been initially configured, if I then right-click on my chart, go to indicator list and bring up the PSC input parameter settings list, even if I change a setting or not, as soon as I click on 'Ok', the PSC is completely removed from my chart (But the lines and their labels are left where they were).
Thanks for reporting! I will try to address all these issues in the next update.
Just to confirm, does the current and will all future PSC Indicator and Script versions fully support both Instant and Market execution types?
And on that note...what is your view on the whole Instant Execution = Dealing Desk topic? do you think this is generally correct? and do you think that out of the two execution types that Market Execution is the most legitimate?
Cheers.
And on that note...what is your view on the whole Instant Execution = Dealing Desk topic? do you think this is generally correct? and do you think that out of the two execution types that Market Execution is the most legitimate?
Cheers.
Yes.
Depends on how you define Dealing Desk in this context. No, I do not think that any of the two executions is more or less legitimate.
Hi,
Due to issues with the legacy version i installed the latest ver. 2.02, 2016-09-23, but for me it doesn't work?
When i try to add PSC to my chart, nothing happens...
Due to issues with the legacy version i installed the latest ver. 2.02, 2016-09-23, but for me it doesn't work?
When i try to add PSC to my chart, nothing happens...
What does it output in the Experts tab of the terminal? I assume you are using the MT4 version, right?
Thanks for the quick reply!
The output in the experts tab:
2016.10.31 11:07:33.488 cannot open file 'C:\Users\User\AppData\Roaming\MetaQuotes\Terminal\2010C2441A263399B34F537D91A53AC9\MQL4\indicators\PositionSizeCalculator.ex4' [2]
I use the MT4 version.
It's a great tool, and i really miss it now...
The output in the experts tab:
2016.10.31 11:07:33.488 cannot open file 'C:\Users\User\AppData\Roaming\MetaQuotes\Terminal\2010C2441A263399B34F537D91A53AC9\MQL4\indicators\PositionSizeCalculator.ex4' [2]
I use the MT4 version.
It's a great tool, and i really miss it now...
Did you compile it? Try compiling PositionSizeCalculator.mq4 (by the way, why it is not in PositionSizeCalculator subfolder?) in MetaEditor and see if there are any errors.
At first i did not compile it, but now i did and it seems to work fine now.
I don't know what you mean with why it is not in the PositionSizeCalculator subfolder? I just copy/pasted this version to the indicator folder, but before i did this i deleted the legacy version first...maybe this is what you mean with subfolder?
I don't know what you mean with why it is not in the PositionSizeCalculator subfolder? I just copy/pasted this version to the indicator folder, but before i did this i deleted the legacy version first...maybe this is what you mean with subfolder?
What I mean is that the indicator's archive contains a subfolder with files:
It is not a problem if you copied the files outside the subfolder and placed them directly into /MQL4/Indicators/. I just thought that maybe you were trying to load some previous version, which I had been bundling in the archive without a subfolder.
It is not a problem if you copied the files outside the subfolder and placed them directly into /MQL4/Indicators/. I just thought that maybe you were trying to load some previous version, which I had been bundling in the archive without a subfolder.
No, i copied the files and placed them directly into /MQL4/Indicators/.
Anyway...now it's working, and with the addition of the PSC script it's working like a charm.
Personally i find this the best PSC outthere, yes there are more....but not like this one.
I don't believe in indicators, but this one rocks!
Great job, thank you for your effort, really appreciated!
Cheers!
Anyway...now it's working, and with the addition of the PSC script it's working like a charm.
Personally i find this the best PSC outthere, yes there are more....but not like this one.
I don't believe in indicators, but this one rocks!
Great job, thank you for your effort, really appreciated!
Cheers!
Wow!....
I guess my previous post was a bit premature. I used it flawless for some time, but now i restarted my device and as soon as i want to add PSC to the chart, MT4 freezes badly. It is still online, but that is about the only thing what is working. The only way to get things back to normal is to shut it down with taskmanager, but every time i want to add PSC to the charts this happens.
The expert tab informs that the PSC indicator is added succesfully???
I deleted all the files, restarted MT4, put the files back into /MQL4/Indicators/ folder, but the issue is still there....
I guess my previous post was a bit premature. I used it flawless for some time, but now i restarted my device and as soon as i want to add PSC to the chart, MT4 freezes badly. It is still online, but that is about the only thing what is working. The only way to get things back to normal is to shut it down with taskmanager, but every time i want to add PSC to the charts this happens.
The expert tab informs that the PSC indicator is added succesfully???
I deleted all the files, restarted MT4, put the files back into /MQL4/Indicators/ folder, but the issue is still there....
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