Position Size Calculator

[Napolean]

Please try deleting all Position Size Calculator .txt and .ini files from /MQL4/Files/ folder and see if it helps.

I tried that. Result is the same. So i also noticed that it's the same for all TF whether it is switching from low to high or high to low, if that clues you in anyways to troubleshoot.

Update:
A little more detail. So i have to apologize for stating that the issue exists on MT5 as well. It did not, it happened on my broker's MT4 (XM) and the generic MT4 which i mistaken to be MT5. MT5 is working perfectly.

The broker's MT4 will turn the SL to 0 when i switch between timeframes. But the generic MT4 still has its SL number in the field despite continuous switching of the TF, however the SL line is gone. So i get an alert saying SL not found when i tried to execute a trade.

 

[Enivid]

The broker's MT4 will turn the SL to 0 when i switch between timeframes. But the generic MT4 still has its SL number in the field despite continuous switching of the TF, however the SL line is gone. So i get an alert saying SL not found when i tried to execute a trade.

Do you have any other indicators/EAs attached that might be interfering with the line? Perhaps, you have multiple instances of PSC attached? You can check that with Ctrl+I.

 

[Napolean]

Do you have any other indicators/EAs attached that might be interfering with the line? Perhaps, you have multiple instances of PSC attached? You can check that with Ctrl+I.

Wow you figured it out . I removed all the indicators and it fixed it. Thank you.

 

[peterpies]

Does this work on Activtrades spread betting MT5 as intended.

I have just changed brokers from Tickmill and the output risk seems different, when using the same variables. Account size and stop loss being the same.

 

[Enivid]

Does this work on Activtrades spread betting MT5 as intended.

I have just changed brokers from Tickmill and the output risk seems different, when using the same variables. Account size and stop loss being the same.

I am not sure that it can work properly on spread betting accounts, but you can always try and see.

 

[peterpies]

I am not sure that it can work properly on spread betting accounts, but you can always try and see.

Yeh, I mentioned 'Spread betting' in case it would affect any thing.

Just checked on a Activtrades CFD account and the output seems to be more what I would expect and different to the spread betting acount.

Why would the spread betting account affect the calculations. Just seems a name to me.


Just checked on a larger spread betting account. As a small account can affect the output because of division. The outputs seem correct.

 

[Enivid]

Yeh, I mentioned 'Spread betting' in case it would affect any thing.

Just checked on a Activtrades CFD account and the output seems to be more what I would expect and different to the spread betting acount.

Why would the spread betting account affect the calculations. Just seems a name to me.


Just checked on a larger spread betting account. As a small account can affect the output because of division. The outputs seem correct.

As far as I know, some brokers use different kind of position size for spread betting - they are measured not in lots/contracts but rather directly in currency per pip. If that is the case, PSC's results will be completely bogus.

 

[peterpies]

As far as I know, some brokers use different kind of position size for spread betting - they are measured not in lots/contracts but rather directly in currency per pip. If that is the case, PSC's results will be completely bogus.

Ok thanks.

Not asking you. But is it possible for a programmer to change the code if that is the case and would it be a complex job, before I enter the wild west searching for one, lol.

Seems to work perfect on a larger account.

On a smaller account the sizing seems wrong when using a stop loss above 15 pips, a smaller stop loss outputs as you would expect.

 

[Enivid]

Ok thanks.

Not asking you. But is it possible for a programmer to change the code if that is the case and would it be a complex job, before I enter the wild west searching for one, lol.

Seems to work perfect on a larger account.

On a smaller account the sizing seems wrong when using a stop loss above 15 pips, a smaller stop loss outputs as you would expect.

Perhaps, this has something to do with minimum volume and volume step parameters? Sometimes, it is just impossible to size a trade with the given stop-loss and risk tolerance if the minimum volume or volume step are too large.

 

[peterpies]

Perhaps, this has something to do with minimum volume and volume step parameters? Sometimes, it is just impossible to size a trade with the given stop-loss and risk tolerance if the minimum volume or volume step are too large.

I don't think it's minimum volume and volume step parameters.

Same account size,

When using an Activtrades MT5 spread betting 'hedging' account the position size is 0.6 lots but when using a 'netting' account the position size is 0.8 lots.

But when using a 'hedging' account on Admiral Markets MT5 CFD the position size is 0.8 lots.

My previous broker Tickmill, the position size was 0.9 lots.

 

[Enivid]

I don't think it's minimum volume and volume step parameters.

Same account size,

When using an Activtrades MT5 spread betting 'hedging' account the position size is 0.6 lots but when using a 'netting' account the position size is 0.8 lots.

But when using a 'hedging' account on Admiral Markets MT5 CFD the position size is 0.8 lots.

My previous broker Tickmill, the position size was 0.9 lots.

Looking at some example screenshots would be useful here.

 

[peterpies]

Looking at some example screenshots would be useful here.

I seem to be mistaken. Hedging and netting accounts are the same. I have many account numbers from testing today in the terminal and got confused.

 

[peterpies]

More testing, it seems it's minimum volume and volume step parameters. It can be partly overcome by using a slightly higher risk percentage.

What confused me is, this was only a problem on a smaller account size on my previous broker.

 

[LektorHH]

First post.
First I want to thank you for this awesome tool. It's sad, that no broker offers such a tool, since they always talk about money management and that 75% of all traders rather loose money. Anyway....

A few points I have in mind:
-[Bug?] PSC in many charts included. One chart is detached and on the second monitor. What ever I try, all trades made with the PSC Trader are made on the active chart in MT5. Would be great, if it would recognize which chart is active an do the order on the active instrument/symbol.

-[wish] please include a button for the PSC Trader in the PSC panel. Now I do my orders via hotkeys. Would be great to have button "trade" or so.

-[wish] I am using the awesome ATR feature to calculate my initial SL. The timeframe of it will stay at the value loaded (M1). When I switch to M5 or D1 or so, it should change as well ( in my opinion).

Thank you

 

[Enivid]

-[Bug?] PSC in many charts included. One chart is detached and on the second monitor. What ever I try, all trades made with the PSC Trader are made on the active chart in MT5. Would be great, if it would recognize which chart is active an do the order on the active instrument/symbol.

PSC-Trader script will open a trade on a trading instrument to which you attach it to - it is for MetaTrader 5 decide what it considers in focus right now. The safest way is to drag-and-drop.

-[wish] please include a button for the PSC Trader in the PSC panel. Now I do my orders via hotkeys. Would be great to have button "trade" or so.

It isn't currently possible without resorting to the use of DLL imports. This is something I want to avoid with PSC.

-[wish] I am using the awesome ATR feature to calculate my initial SL. The timeframe of it will stay at the value loaded (M1). When I switch to M5 or D1 or so, it should change as well ( in my opinion).

Good idea! I will try to add that in the next version.

 

[LektorHH]

It isn't currently possible without resorting to the use of DLL imports. This is something I want to avoid with PSC.

Ok, would it be possible to configure two hotkeys then?
alt+k for long and alt+j for short (for example).
Then it would be possible to minimize the PSC panel since all settings have been set and to trade just with these two hotkeys.

 

[Enivid]

Ok, would it be possible to configure two hotkeys then?
alt+k for long and alt+j for short (for example).
Then it would be possible to minimize the PSC panel since all settings have been set and to trade just with these two hotkeys.

Hotkeys can only be set to scripts. In theory, it is possible to create two separate scripts (one for Sell and one for Buy) and then set different hotkeys to them, but the problem is that the trade's direction is determined by the PSC indicator (via its relative SL/Entry location). The position size itself can also be different for a trade depending on whether it is a Sell or a Buy even if you just reverse the SL/TP for each.

It seems to me, the best solution here would be to have two PSCs open on separate charts - one configured for a Sell trade and one for a Buy trade. You could then enter a trade with a single hotkey by switching between the charts.

 

[Dunious]

Hi there, just wanted to say your position size calculator was a total godsend for me, thank you for that, I really appreciate what you've done to make trading life for us easier.

Anywho, just joined the forums today, I wanted to ask is it possible to add an "Open Order" button on the indicator menu itself that executes the script?

 

[Enivid]

Anywho, just joined the forums today, I wanted to ask is it possible to add an "Open Order" button on the indicator menu itself that executes the script?

This would require either converting the indicator to an EA or for it to require DLL imports.

 

[Dunious]

This would require either converting the indicator to an EA or for it to require DLL imports.

Any plans to have that as an optional alternate version since I feel like I can leave that setting on if it's only for this indicator?
I can't go the EA route because my funded trading program rules (and even others) do not allow to open orders with EAs.