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Do You Use Our Position Size Calculators? Poll

October 20, 2013 (Last updated on November 3, 2013) by

For quite some time we are offering our free position size calculation tools to traders. They are of two types: online calculator form and downloadable MetaTrader indicator. The former was introduced more than 5 years ago in February 2008; the latter — just over 18 months ago.

I believe that the online calculator is a better solution when planning out some hypothetical trades or when you have no access to MetaTrader (4 or 5) at your main Forex broker. The indicator, on the other hand, is more convenient for manual trading on MetaTrader. I would like to know which of these calculators (or any other) you are using in your daily trading and why.

Do you use our position size calculator?

View Results

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PS: There is also a built-in position size calculator in my free ChartPatternHelper expert advisor, but it is not a good tool to use for determining trading volume if you are not using that EA directly.

If you wish to share some detail about the tool you utilize for position size calculation, please feel free to tell us about it using the commentary form below.

14 Responses to “Do You Use Our Position Size Calculators? Poll”

  1. Iris White

    Yes the online calculator is very useful and we can calculate so many numbers in online calculator this is nice.

    Reply

  2. RENU K S

    Online calculaor is very useful.

    Reply

  3. kamal khan

    please include the metal pairs ie gold and silver on the position size calculator. will be very greatful if they are included

    thnx

    Reply

    Andriy Moraru Reply:

    Unfortunately, it is not possible to perform accurate position size calculations for metal pairs using the online calculator as it is. Please use the MetaTrader indicator to calculate position size for commodity instruments.

    Reply

  4. Mark

    I like your online calculator because it is simple, includes the Aussie as the account currency, which for some bizarre reason others don’t, and doesn’t have adverts flashing up while you’re trying to use the calculator. However it is a shame you won’t include a risk:reward take profit function on your MetaTrader indicator. I use a standard risk:reward of 1:2 because it is a simple, quick and profitable risk management system, especially for those of us who also have a full-time job. I would use the indicator if a take profit function was included so I would ask you to reconsider your decision. I would find more currency pairs on your calculator useful and a CFD calculator would be great.

    Reply

    Andriy Moraru Reply:

    Thanks for a detailed feedback, Mark. I really appreciate it when visitors provide details of what they like or do not like about my website.

    I will not incorporate TP setting based on RR ration because I believe it is harmful to base your exit levels on your money management ideas. Even if more traders ask for such feature, I will not add it, the same as I will not be adding Martingale position sizing to my expert advisors.

    As for currency pairs – please let me know, which currency pairs you would like to see there.

    CFD position size calculation is quite different from that of Forex pairs as lot size, tick size and tick value vary from broker to broker. MetaTrader indicator can detect all those parameters, while the online form cannot. Users would have to input those values themselves, and most won’t even know where to find them.

    Reply

  5. Robert

    Hi Andriy, I use the MT4 position size calculator, and I’m very pleased with it, so thank you for sharing this indicator.

    Since I’m only interested in the position size, I would like to get rid of the other text the indicator creates. Is it possible for me to delete the relevant parts in the code, or would the indi no longer work if I do that?
    If it is possible, could you please point out which parts of the code I can delete?

    Reply

    Andriy Moraru Reply:

    You can safely remove all calls to ObjectCreate, ObjectSet, ObjectSetText and ObjectDelete functions that do not deal with PositionSize, EntryLine and StopLossLine.

    Reply

    Robert Reply:

    Thanks Andriy for your swift reply, I’ll give it a try.

    Reply

    Andriy Moraru Reply:

    You are welcome! Please let me know of your success (or lack of).

    Reply

    Robert Reply:

    Worked just fine, if anyone els wants to do the same, notice to remove the +80 value behind “y” in order to be able to get the text higher in the chart.

    Again thanks Andriy

    Reply

  6. Mark

    Hi,
    When I apply the Position Size Calculator indicator to a chart and then close and reopen Metatrader I find that the Current Portfolio Risk %, the Potential Portfolio Money Risk and the Potential Portfolio Risk text disappears and is replaced with a text box that just says ‘Label’ and the calculator no longer works.
    I’ve uninstalled and reinstalled the indicator several times and get the same result.
    Are we supposed to reapply the indicator each time we open a chart and then delete it when we want to close the platform?
    Cheers.

    Reply

    Andriy Moraru Reply:

    That’s definitely a bug. I need the following information from you to solve the issue:

    What version of the platform are you using – MT4/MT5 and Build?

    What version of the Position Size Calculator indicator do you use – Main/Separate window and version?

    Is there some output in the Experts tab when you reopen MetaTrader and indicator stops working?

    Reply

  7. Mark

    … also noticed that the indicator is no longer in the “Indicator List’.

    Reply

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