auto position sizing

Questions about MultiCharts .NET and user contributed studies.
rockaphonics
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Joined: 19 Jun 2018
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auto position sizing

Postby rockaphonics » 11 Jan 2019

Hello, i would like to seek help from someone who knows any way or indicator which can prompt me on my position sizing.
I am trading forex via MC.
For example, if i wish to risk 1 percent of my capital, is there a method or indicator which can detect my stop loss (pips) from entry price and show me the amount to trade. perhaps using chart trading functions?
Also would appreciate recommendations to 3rd party freelance programmers.
Thank you!

darob
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Re: auto position sizing

Postby darob » 12 Jan 2019

Hi rockaphonics, have you looked at the position size calculator in the contributed studies? It calculates based on current price. How do you place your stop? I could add an offset option based on average true range or something.

rockaphonics
Posts: 13
Joined: 19 Jun 2018
Has thanked: 2 times

Re: auto position sizing

Postby rockaphonics » 13 Jan 2019

Hi rockaphonics, have you looked at the position size calculator in the contributed studies? It calculates based on current price. How do you place your stop? I could add an offset option based on average true range or something.
Dear Darob,
thank you for your reply.
i was thinking about a tool whereby when i place a entry order and my targets sl and tp ( OCO ) the indicator can prompt me on the amount of lots to trade depending on pre set risk perimeters. Do you have any advice?

Thank you once again.

darob
Posts: 177
Joined: 20 Nov 2014
Has thanked: 48 times
Been thanked: 23 times

Re: auto position sizing

Postby darob » 13 Jan 2019

Hi rockaphonics, this calculator lets you define the capital you want to risk per trade and calculates the maximum number of shares you can trade at the current price. I round down if I don't want to trade odd lots. It's pretty basic and meant to be used with a manual trading preset tuned to your risk tolerance, but I'm happy to tweak it a bit (substitute stop price for current price, for example) if you think this is what you want.

Otherwise Multicharts offers custom programming if you want something more comprehensive.

Cheers


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