There is a current/potential portfolio risk in the Risk tab. It is also possible to calculate the position size based on the current balance minus the current portfolio risk.
Position Size Calculator
- Thread starter Enivid
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Hi,
I have a problem.
I have been using the Position Size Calculator for over a year on MT4 and love it, never had a problem. I'm now using MT5 as well, and I tried to set up the PSC in the MT5 terminal, but I'm getting some strange results. In the screen shot I have MT4 working correctly (LEFT), and MT5 (RIGHT). The broker is the same, the security is the same, the parameters are the same, but the results are very different. Have you seen this before? I believe the installation was successful. I don't understand.
Thanks in advance.
I have a problem.
I have been using the Position Size Calculator for over a year on MT4 and love it, never had a problem. I'm now using MT5 as well, and I tried to set up the PSC in the MT5 terminal, but I'm getting some strange results. In the screen shot I have MT4 working correctly (LEFT), and MT5 (RIGHT). The broker is the same, the security is the same, the parameters are the same, but the results are very different. Have you seen this before? I believe the installation was successful. I don't understand.
Thanks in advance.
Unfortunately, I cannot open a Pepperstone MT5 account in GBP right now. Could you please look at the content of the Experts tab of the Terminal subwindow of your MT5 platform when you try to calculate with PSC there? Thanks!
Could you please check if GBPUSD is in the Market Watch? If not, try adding it there.
GBPUSD is already in Market Watch unfortunately. All the majors are.
FYI I get a similar error when I try with other world indices (AUS200 I get an AUD GBP error).
UK100 which is priced in GBP works fine.....
I only have a USD MT5 demo account with Pepperstone - it won't allow me to open another one. USD account works fine with AUS200. I also tried GBP account with ICMarkets MT5 with a US500 index - also works fine.
Could you please share your Pepperstone MT5 GBP demo account credentials with me, so I could try to debug the problem?
One ot the main reasons a trader is not profitable is because it takes a higher rish than he should take. The parameter risk per trade, in percentaje or as a fixed amount, is a well known prarameter. But what it is forgotten almost ever is the total risk you take per day. In courses, books and seminars about money management is not so usual to hear about the risk protfolio or risk per day. Bennet McDowell, considered as the bible of money management, insists a lot in this point. Since I started to use it, my results improve over 20 %.
In any case, your indicator is so complete and works so well and easy , it was just a suggestion to improve just a detail.
I dont know if you have considered any time to calculate the position size with ATR, as the famous turtles sytem does. The idea is to take bigger positions in less volatile markets and lower positions in volatile markets. It is a way very efeectively to manage the risk.
A doubt: I dont understand, sorry, the difference among them. Would you be so kind to explain please?
Current portfolio risk (currency) — shows the risk in currency units without the position, which is currently being calculated by this indicator.
Potential portfolio risk (currency) — shows the risk in currency units as if you have already opened a position, which is currently calculated by this indicator.
Current portfolio risk (%) — same as Current portfolio risk (currency) but in percentage to the account size.
Potential portfolio risk (%) — same as Potential portfolio risk (currency) but in percentage to the account size.
Current portfolio reward (currency) — shows the reward in currency units without the position, which is currently being calculated by this indicator.
Potential portfolio reward (currency) — shows the reward in currency units as if you have already opened a position, which is currently calculated by this indicator.
Anyway, an amazing tool and a very useful website I am very fond of it.
Thanks for you contributions!.
Kind regards and hapy trading,
Inigo
I am not sure how to explain it better than it is there. Current is the total risk you have now from your open positions, Potential is Current + What is calculated on the Main tab of PSC.
Position Size Calculator has been updated to version 2.29 today. PSC-Trader script has been updated to version 1.08.
It implements suggestions by @Napolean and @jdee (and by @Tradgod), and also those sent to me by email and via Facebook.
The new version is also available on Github.
It implements suggestions by @Napolean and @jdee (and by @Tradgod), and also those sent to me by email and via Facebook.
The new version is also available on Github.
Just tried it, entered 3 for the new setting "ScriptTakePorfitsNumber" and see 3 fields in the Script tab - perfect.
However, when I enter a price in "Take-profit 1" the field zero's out when I exit the field. The Take-profit 2 and Take-profit 3 text boxes accept the value fine. Everything else seems to work as expected, including 3 trades were correctly calculated and placed into MT4 (except the TP for first trade was 0.00000).
Thank you once again - sensational!
Field 1 is always the same as the main take-profit. You probably didn't add take-profit on the Main tab. I will fix this in the next version by making it so that entering something in the Script TP1 field to create a take-profit line if it was zero on the Main tab.
Hotfix version 2.291 released to address a bug in MT5 version's calculation process. If you are using MT4 version, you don't need to download version 2.291.
Please refer to the Frequently Asked Questions section:
https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/#FAQ
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