Position Size Calculator
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I have looked and finding some Errors, but there are none.
I think it happens when I place an Order through EA that has printed buttons on the chart
The PSC remains half way in the background. I cant move it or calculate with it but I can still input values in its fields...
It looks like the EA is messing with the PSC's panel objects, but I don't understand why and why there are no errors. Could you please attach the EA's source files here?
Thank you, i will try it out. I remember that metatrader 5 has had some kind of automatic update a few weeks ago. Maybe this is the reason for the failure? I will write again in here if this does not fix the problem.
Are you talking about Build 2085 (June 13) update? It should work well with it. If you mean some beta version update, then there is no guarantee. Some beta version builds are too buggy.
Position Size Calculator has been updated to version 2.25 to fix compilation errors in MT5 Build 2170 and later releases. Position Size Calculator for MT4 has also been updated to fix the same issues in case MQL4 gets similar updates in the future (which is quite probable).
I just tried out trading with the newest version. So far it seems that the failure is gone on some pairs. But i noticed on some pairs (for example US500) that the position size is again way off. I think some others have also wrong values but not that extreme. If i enter a long on US500 with 100 euro risk and the price moves to target (about the same pips as my stop loss) i am merely 0.90 cent in profit but it should be 100 euro. I also have opened 2 trades with different percentage risk but both positions have the same profit/loss number all the time. This is impossible because the position size should be different. I think this is the problem in this case.
I also just noticed that on US500 the maximum position size by marging does change if i change the leverage. This is not the case on the forex pairs so far. This means maybe that the US500 has a false default leverage set?
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Okay thanks. I found another failure in the pair XTI USD (oil). A test trade with 50 euro risk resulted in a close in 81.50 euro loss. This is more than 50 % off. Any guess what the reason could be here? The position size is changing but it is still somehow wrong.
Actually, after looking closer at the issue, there is a problem with margin calculation for the cases like XTIUSD + EUR account, but there isn't any problem with calculating the position size. Could you please check again? Perhaps, the 50 EUR risk you give as an input translates into 81.50 Result risk as calculated because of the too wide step combined with tight stop-loss? Attaching some screenshots would be helpful here.
https://www.directupload.net/file/d/5602/w2jv2yhp_jpg.htm
I hope this link is okay. Somehow i can not upload pictures in form of a jpeg or something else. It shows the data of the trade that i exported from metatrader 5. Is this enough? I think in terms of a too tight stop loss the numbers don´t make sense. It was not a huge slippage or something like that. I think some other pairs do have a similiar issue.
Maybe the best solution for me is just to convert my euro into dollars on IC market if i want to trade it on a real account? Maybe you can tell me if this issue is likely a problem because of the euro currency. I guess most people use dollar as base currency and i bet it will be the one which hopefully works perfect.
Here is another picture. The first one seems to have strange numbers /wrong orders. This one is a screenshot of the interface
https://www.directupload.net/file/d/5602/vyv786d5_jpg.htm
Did you try uploading an image via "Upload a File" button? It should work.
It would be best to see the actual PSC panel with everything calculated and the resulting trade together to see what's going on. But from this image, I can see that the volume is 0.50, which is the minimum size allowed on XTIUSD at IC Markets. If your calculated position size was 0.31 for example, the calculator would display 0.50 as the result, which would lead to the loss of 81.50 EUR instead of the planned 50 EUR. If you look at the PSC panel, there are two columns - Input and Result:
As you can see, the resulting risk is about 1.3 times higher than the given one because the position size cannot go lower than 0.5 lots on XTIUSD.
I don't think that's the case. I have checked XTIUSD with EUR account on IC Markets and everything looks fine (except margin calculation, which is going to be fixed in the next version).
Hello!
This is a great tool! I have a few questions that could make it more efficient for me, almost a one click tool for what I need:
1) Could the stop-loss be set to the highest or lowest wick value in 8 candles (instead of the last one), for either buy or short by seeing if the current candle is red or green? It always defaults to buy I think.
2) I can't drag the stop-loss line on my charts, I have to manually type the value in to move it. Not sure why this is, I'm using MT5. It wouldn't matter to me if I could accomplish the step above though.
3) Can take-profit be automatically set or pre-filled in based on risk, etc., without having to click the take-profit button after adding it to a chart? That would save one more click.
4) Is there a way to set defaults without having to load my settings every time (under the inputs tab) when adding it to a chart?
Essentially, I'm looking for a way to assign a hotkey to add it to a chart easily, and a second hotkey to open the trade via PSC-Trader. This is so close if I could automate the last couple of steps for me.
Thank you so much!
This is a great tool! I have a few questions that could make it more efficient for me, almost a one click tool for what I need:
1) Could the stop-loss be set to the highest or lowest wick value in 8 candles (instead of the last one), for either buy or short by seeing if the current candle is red or green? It always defaults to buy I think.
2) I can't drag the stop-loss line on my charts, I have to manually type the value in to move it. Not sure why this is, I'm using MT5. It wouldn't matter to me if I could accomplish the step above though.
3) Can take-profit be automatically set or pre-filled in based on risk, etc., without having to click the take-profit button after adding it to a chart? That would save one more click.
4) Is there a way to set defaults without having to load my settings every time (under the inputs tab) when adding it to a chart?
Essentially, I'm looking for a way to assign a hotkey to add it to a chart easily, and a second hotkey to open the trade via PSC-Trader. This is so close if I could automate the last couple of steps for me.
Thank you so much!
I am not sure this is something worth changing - the default placement of the lines when the PSC is added to the chart is there just to place the lines and let the trader decide where to move them. There is no way the default placement will be good for all traders.
Do you select them by double-clicking them first? They have small rectangles at both ends when the are selected.
I could consider adding something like default TP pips or default TP R/R ratio, but I am not sure it is worth it. Neither are going to be constant for 99% of traders. Pips would differ per trade setup and currency pair, while R/R ratio wouldn't be meaningful as default SL is just some basically random level on the chart.
Saving the chart template could work, but it would also save lots of other things in addition to the PSC.
Ah! I wasn't double clicking on the stop-loss line first. That solves my biggest time-saving frustration. It's pretty easy to just move the line to where I want and then click the take-profit button. I mostly didn't want to have to look numbers up and manually type them in, that gets old.
I tried adding PSC to the chart and saving it as the chart template, but the problem then was that the next chart wouldn't work until I went to the previous one and closed PSC first, because it would be open more than once and you couldn't move the window or interact with it. Also, the stop loss line didn't show up. So I wound up having set a hotkey for it, or drag it onto the chart I wanted, and then that requires loading my settings every time under the inputs tab, etc., etc.
I tried adding PSC to the chart and saving it as the chart template, but the problem then was that the next chart wouldn't work until I went to the previous one and closed PSC first, because it would be open more than once and you couldn't move the window or interact with it. Also, the stop loss line didn't show up. So I wound up having set a hotkey for it, or drag it onto the chart I wanted, and then that requires loading my settings every time under the inputs tab, etc., etc.
That's rather strange. Are you sure that you are using the latest version of PSC (2.26)? Is there some output in the Experts tab when you encounter this problem?
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