Position Sizer

[PaulDvor]

And also I noticed that when I set a second TP it always a stop limit order like appears. Is it designed to be so?

 

[JZH]

I'm sorry for maybe a dumb question, but aren't you planning to implement it? Would be just wonderful. I understand that there are thousands of users and they all have their wishes and requests, but I guess this one would be highly demanded and appreciated one. Especially if we had it in style with text box, where it would be possible to set in precents what size of the opened position you would like to close. Thanks in advance

Looking for exactly same thing. Some thing like a console where partial profit or loss percentage can be added or can be able to close partial with a mouse click or keyboard short key. Would be amazing add on to an already perfect product. Some thing like this https://www.mql5.com/en/market/product/82356?source=External

 

[Enivid]

And also I noticed that when I set a second TP it always a stop limit order like appears. Is it designed to be so?

What exactly do you do and what happens?

 

[PaulDvor]

What exactly do you do and what happens?

I got my stop loss line, entry and take profit on the chart. When I click on the plus button to add another take profit to the chart, then change '0' value so that another TP line appeared - it appears alongside with stop limit line. I tried deleting it, it disappears but in a second appears again.

All the manipulations are done on the demo account, on a closed market. Maybe this could be the reason. I didn't have a chance to try the Position Sizer on a live one, unfortunately.

 

[Enivid]

I got my stop loss line, entry and take profit on the chart. When I click on the plus button to add another take profit to the chart, then change '0' value so that another TP line appeared - it appears alongside with stop limit line. I tried deleting it, it disappears but in a second appears again.

All the manipulations are done on the demo account, on a closed market. Maybe this could be the reason. I didn't have a chance to try the Position Sizer on a live one, unfortunately.

Could you please attach screenshots of the chart before you set the TP level and after?

 

[PaulDvor]

Could you please attach screenshots of the chart before you set the TP level and after?

I don't know what happened, but I don't get this issue anymore. It's literally some kind of a gimmick or I dunno. I kept getting this issue for 3-4 times in a row and now, when I want to take a screenshot of it - it just doesn't happen anymore. Anyways, when I get it again, I'll take a screenshot. Sorry for misleading bug report.

And I also would like to know if there is a slight chance to see those magic close custom size of a position buttons? Thank you for a great product.

 

[Enivid]

And I also would like to know if there is a slight chance to see those magic close custom size of a position buttons? Thank you for a great product.

Let's say the chances for that to get implemented in the Position Sizer are very slim.

 

[PaulDvor]

Let's say the chances for that to get implemented in the Position Sizer are very slim.

That's super upsetting, but we all here appreciate what you have done so we can't ask more. That would be incorrect.

You said that if I got 2 take profits, it means my order will be divided into 2 separate ones?

 

[Enivid]

You said that if I got 2 take profits, it means my order will be divided into 2 separate ones?

Yes, it should do that.

 

[Cliff Jaded]

Unable how? Does your custom symbol has all its specification set up correctly?

Apparently not. This happens.

 

[Enivid]

Apparently not. This happens.
View attachment 23873

Try changing its type to CFD.

 

[Enivid]

The top post has been updated with this tutorial video for all those struggling to install the Position Sizer EA:

 

[BlackBird]

Hello,
I've been using the older version for a while, so first thanks a lot for your work !
I've just switched to the newer one, and I would like some tips on how to use the breakeven feature please.

I've read that this has to be a number of points, is it related to the entry point ? do we need to make it negative for sells ?
How can we see if the auto BE is enabled once we placed the trade ?
What is the magic number and is it required to use the Breakeven feature ?


-I got some other issue related to risk % being not right for some reason (2% risk on 500$, should be 10$ but it's actually risking 6$)
-And a purple line showing as a stop limit after placing a normal pending order. But there is no actual stop limit order placed or waiting to be activated

Thank you

 

[Enivid]

I've read that this has to be a number of points, is it related to the entry point ?

Yes, it is the number of points of profit compared to the entry level when to move the SL to breakeven.

do we need to make it negative for sells ?

No.

How can we see if the auto BE is enabled once we placed the trade ?

You can see that only on the Trading tab of the PS panel. If you remove the EA, change the magic number on the panel, or zero the BE field, the feature won't work.

What is the magic number and is it required to use the Breakeven feature ?

It uses the magic number to track the orders it opened and to apply the BE/TSL features to them. Yes, it is required.

-I got some other issue related to risk % being not right for some reason (2% risk on 500$, should be 10$ but it's actually risking 6$)

Could you please provide an example screenshot?

-And a purple line showing as a stop limit after placing a normal pending order. But there is no actual stop limit order placed or waiting to be activated

Are you trying to open a "normal" Pending order and the purple line appears? Or are you switching to the Stop Limit order type and it somehow works incorrectly?

 

[BlackBird]

Yes, it is the number of points of profit compared to the entry level when to move the SL to breakeven.

ok got it thanks

You can see that only on the Trading tab of the PS panel. If you remove the EA, change the magic number on the panel, or zero the BE field, the feature won't work.

It uses the magic number to track the orders it opened and to apply the BE/TSL features to them. Yes, it is required.

Alright I see, but by default the magicnumber is 0 for me, is that normal ? because I see yours from videos etc being large numbers

Could you please provide an example screenshot?


Are you trying to open a "normal" Pending order and the purple line appears? Or are you switching to the Stop Limit order type and it somehow works incorrectly?

yes I'll post it below, but I used a normal pending order, a sell limit or buy limit, I never use stop limits.
You can see the risk is wrong here, I never had issues like this before

 

[Enivid]

Alright I see, but by default the magicnumber is 0 for me, is that normal ? because I see yours from videos etc being large numbers

It shouldn't be zero by default, please check your input parameters. However, it will work even with 0 for trades that also have 0 Magic number value or no Magic number set.

yes I'll post it below, but I used a normal pending order, a sell limit or buy limit, I never use stop limits.

Perhaps, you switched to Stop Limit accidentally? It normally goes after Pending in the switch order. You can disable it completely via input parameters.

You can see the risk is wrong here, I never had issues like this before

Not sure why you say that it's wrong. Is that because 8.56 isn't 10.00 you are expecting? But in your case, the position size cannot be set to such a value that the risk is exactly 10.00. It's either 0.4 lot and the risk is 8.56 or it is 0.5 lot and the risk would supposedly be 10.70. I don't think your broker lets setting a position size anywhere between 0.4 and 0.5.

 

[BlackBird]

It shouldn't be zero by default, please check your input parameters. However, it will work even with 0 for trades that also have 0 Magic number value or no Magic number set.

I’ve checked and in the parameters it is set to default as 0 for some reason
Maybe it is because I’ve loaded my old settings into it ? It may have messed up things

Perhaps, you switched to Stop Limit accidentally? It normally goes after Pending in the switch order. You can disable it completely via input parameters.

I’m pretty sure I had doubled check and it was a pending and not stop limit. It happened 2 times. And I can’t erase that purple line, it just keeps showing back up (when the order/trade is placed)
But I’ll disable it completely thanks

Not sure why you say that it's wrong. Is that because 8.56 isn't 10.00 you are expecting? But in your case, the position size cannot be set to such a value that the risk is exactly 10.00. It's either 0.4 lot and the risk is 8.56 or it is 0.5 lot and the risk would supposedly be 10.70. I don't think your broker lets setting a position size anywhere between 0.4 and 0.5.

Ahhh sorry you are right, the position size is that small that the PS can’t make it respect 10$ risk or 2% of 500$
My bad ! Thank you for the quick replies

 

[jameshrford]

Hello! I would like to ask about pending orders. When setting limit order with PSC, the expiration time for this order is set minimum for 11:00, if I try to set other closer time, the "modify" button will not work.
It works fine if I set order manually, not through PSC.

 

[Enivid]

Hello! I would like to ask about pending orders. When setting limit order with PSC, the expiration time for this order is set minimum for 11:00, if I try to set other closer time, the "modify" button will not work.
It works fine if I set order manually, not through PSC.

Not sure what you are talking about. The PS EA doesn't allow setting expiration time for orders. You have to do it via the normal MetaTrader order editing interface if you need to set expiration time.

 

[CARPARK]

Suggestion for next version (re breakeven point):

• If a breakeven point is specified in the panel, there is an option for this to be drawn on the chart (in input settings?)
• Should be labelled as such on the line drawn on the chart (eg 'Break Even')
• User definable colour etc in input settings
• Line and label should be removed once SL is moved to breakeven

It would help me monitor trades as I use different BE points per pair. Maybe something similar for trailing stop? (Although I never use TS and have no idea how it functions within PS).