Live Risk Management in Chart Trading

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cc64
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Live Risk Management in Chart Trading

Postby cc64 » 15 Jul 2020

Hi,

new to MC. Great platform.

I would like to know if it is possible to have a way for MC to automatically calculate position sizing based on my Risk(R).

Say i want to risk 100$ between my entry and stop, ideally i would like to click my limit entry on the chart then my stop and have MC calculate the number of shares instantly as soon as my entry is activated. Does this exist already in MC somewhere or would i need to code this myself(I have zero coding skills btw...)

TIA

Claude

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Svetlana MultiCharts
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Re: Live Risk Management in Chart Trading

Postby Svetlana MultiCharts » 30 Jul 2020

Hello Claude,

There is no such feature for manual trading, unfortunately.
In auto trading you can use Cash per trade option. In MultiCharts it is configured in Strategy Properties -> Properties -> Trade Size section.
MC.png
(38.52 KiB) Not downloaded yet
If you use Portfolio Trader, click Show Properties in the portfolio tree and go to Properties -> Cash per trade or Percent of equity.
PT.png
(38.19 KiB) Not downloaded yet
Alternatively, you can code a custom signal that will calculate the trade size in relation to the capital, using keywords to access the capital: InitialCapital, OpenPositionProfit, NetProfit.

mickatrade
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Re: Live Risk Management in Chart Trading

Postby mickatrade » 31 Jul 2020

Hi,

Check this video : https://www.youtube.com/watch?v=2SZvt467d9c

i think it's the kind of tool you need.

Regards,

MJ

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Re: Live Risk Management in Chart Trading

Postby mickatrade » 06 Aug 2020

Hi,

I've attached an interactive risk management tool, you can test it.
Please check the screenshots for intructions.
You can also move horizontal lines and text boxes will update.

Regards,

MJ

Image
Image
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rmbasic.sef
RIsk management tool
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mama1960
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Re: Live Risk Management in Chart Trading

Postby mama1960 » 01 Mar 2021

Hi Mick,
is it possible to add, in the first row of your excellent interactive risk management tool, also the % of your trading capital you are willing to risk in each trade?
To my mind, in this way, the tool would be more complete, because it would be able to connect itself to the account balance.
Many thanks.
Best regards
Massimo

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Re: Live Risk Management in Chart Trading

Postby mickatrade » 01 Mar 2021

Hi Mick,
is it possible to add, in the first row of your excellent interactive risk management tool, also the % of your trading capital you are willing to risk in each trade?
To my mind, in this way, the tool would be more complete, because it would be able to connect itself to the account balance.
Many thanks.
Best regards
Massimo
Hi Massimo,
Thank you for your suggestion, i'll add it to the todolist for the a future release.
Best,
MJ

mama1960
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Re: Live Risk Management in Chart Trading

Postby mama1960 » 02 Mar 2021

Many thanks, Mick!

Kind Regards and good job.

Massimo

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syswizard
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Re: Live Risk Management in Chart Trading

Postby syswizard » 02 Mar 2021

website "solvelgmm.com" no longer exists. New site ?

mama1960
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Re: Live Risk Management in Chart Trading

Postby mama1960 » 05 Mar 2021

Hi Mick,

In view of the future release of your risk management tool, I send you, by the below download link, a smart Expert Advisor that works on MT4: I would suggest you to take a leaf from this tool, because, to my mind, it is beautifully set and designed, with all the critical functions to manage properly the trading risk.

Here is the link to download the Trade Manager EA: https://forex-station.com/viewtopic.php?t=8472640.

Thank you and kind regards.

Massimo

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Re: Live Risk Management in Chart Trading

Postby mickatrade » 07 Mar 2021

Hi Massimo,
I 've checked your video , it's very interesting but i'm not sure itis possible to send orders from an indicator in multicharts.
Maybe the support team can answer to that.
Best,
MJ

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Re: Live Risk Management in Chart Trading

Postby mama1960 » 08 Mar 2021

Hi Mick,

to my mind, the question is this: does Multicharts provide tools able to work like the Expert Advisors of MT4?

Surely, a trading platform as sophisticated (and expensive) as Multicharts should definitely propose a similar tools.

I will try to ask the support team for guidance.

However, only the RpT % (the % of the capital you are willing to risk in each trade) add-on would greatly increase the usefulness of your risk management tool.

Best regards and good job!

Massimo

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syswizard
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Re: Live Risk Management in Chart Trading

Postby syswizard » 08 Mar 2021

Hi Massimo,
I 've checked your video , it's very interesting but i'm not sure it is possible to send orders from an indicator in multicharts.
Maybe the support team can answer to that.
I believe this is possible thru a clever implementation of the GlobalVariables DLL. This permits data communication between signals and indicators.

mickatrade
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Re: Live Risk Management in Chart Trading

Postby mickatrade » 20 Mar 2021

Hi Syswizard,

Thank you for the idea, i'll perform tests with GV.
PS : I've coded the same tool for TS in OOEL language. Instead of hotkeys , i use buttons, you can check the video below :)

https://www.youtube.com/watch?v=l5oNrOZ-1wQ

Best,

MJ
Hi Massimo,
I 've checked your video , it's very interesting but i'm not sure it is possible to send orders from an indicator in multicharts.
Maybe the support team can answer to that.
I believe this is possible thru a clever implementation of the GlobalVariables DLL. This permits data communication between signals and indicators.

mama1960
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Joined: 28 Feb 2021

Re: Live Risk Management in Chart Trading

Postby mama1960 » 20 Mar 2021

Hi Mick,
is it possible to develop the tool so that it can execute manual orders by all the available contracts, such as in Futures, Indexes, Cash, CFD and Stocks, with also the input of the % of your capital you are willing to risk in each trade?
To my mind, a similar tool would be a breakthrough for Multicharts!
Many thanks!
All the best.
Massimo

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Re: Live Risk Management in Chart Trading

Postby mickatrade » 20 Mar 2021

Hi Mick,
is it possible to develop the tool so that it can execute manual orders by all the available contracts, such as in Futures, Indexes, Cash, CFD and Stocks, with also the input of the % of your capital you are willing to risk in each trade?
To my mind, a similar tool would be a breakthrough for Multicharts!
Many thanks!
All the best.
Massimo
The issue with the % of your capital is you need your live account to be connected in order to use the tool.
I think risk per trade is more efficient for this reason.
Best,
MJ

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Re: Live Risk Management in Chart Trading

Postby mickatrade » 20 Mar 2021

Hi,

I've done a POC for live orders, you can check the video below :

https://youtu.be/dxZLR7iv_Iw

Best,
MJ

mama1960
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Re: Live Risk Management in Chart Trading

Postby mama1960 » 21 Mar 2021

Thank you Mick,
that's exactly what I mean: the live account should be connected to the tool.
In my opinion, the risk per trade (as % of your capital) is the best way to link the order inputs with the money management.
Besides, it should have the ability to execute manual orders by all the available contracts (see above).
I watched your last video, but there is no clear view.
Many thanks ad kind regards!
Massimo

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Re: Live Risk Management in Chart Trading

Postby mickatrade » 21 Mar 2021

Hi Massimo,
Thank you for your feedback; The video just shows that order are sent right after RMTool has been drawn.
BTW, if you need a specific development tailored to your need, just ask me in private.
Kind regards,
MJ

mama1960
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Re: Live Risk Management in Chart Trading

Postby mama1960 » 21 Mar 2021

Thank you Mick,
anyway, a similar tool would be able to cover the needs of all the trading modes and, above all, would fill a huge gap of Multicharts which is now devoid of it, while all the other main trading platforms have it available: that's why it would be a large breakthrough for it.
To my mind, a tool like this MUST be available in a platform such as Multicharts!
Not least, I think it would be a very interesting opportunity for you: this tool would have a large amount of buyers.
Best regards
Massimo

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Vlada MultiCharts
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Re: Live Risk Management in Chart Trading

Postby Vlada MultiCharts » 23 Mar 2021

Hello everyone,

Thank you for sharing your thoughts and views, we highly appreciate that.
Our development team has planned the improvement based on this thread for the future release versions of MultiCharts.

cc64
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Re: Live Risk Management in Chart Trading

Postby cc64 » 04 May 2021

Wow i did not see this reply Vlada.

Great news!! Thanks!

Claude

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syswizard
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Re: Live Risk Management in Chart Trading

Postby syswizard » 28 Oct 2022

In the current release (14), one can determine the PnL and therefore the equity curve for any instrument...in real time.
The trick is to spin thru past trades and cumulate the PositionProfit for each trade. It would be great if MC developers could make this easier and more straightforward.

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Re: Live Risk Management in Chart Trading

Postby syswizard » 28 Oct 2022

MES-Profit Target Reached.PNG
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