Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

Poll: Which Version of Position Size Calculator Do You Prefer?

October 10, 2016 by

According to a poll from 2013, only 16% of this blog’s readers preferred to use the Position Size Calculator for MetaTrader as their choice position sizing tool, while two thirds opted for a simple web version calculator instead. As it has been a month since the graphical panel version of the PSC was released, it is now time to measure the popularity of different calculators again.

Online Position Size Calculator is based in Javascript and offers a fast and convenient way to quickly calculate position size if you manually enter all the parameters. It does not require download, installation, and is available for traders independently of their platforms. Unfortunately, it lacks any interesting features and requires a lot of data entry work.

Online Position Size Calculator Screenshot

Legacy Position Size Calculator is an old school indicator for MT4 and MT5. You set all the settings via input parameters — with the exception of the entry/SL/TP lines, which can be moved on chart. It outputs all the calculated results directly to the chart. It does a lot of things in automation compared to the online calculator and has some extra features (risk and margin calculation), but is still quite unwieldy.

Legacy Position Size Calculator Screenshot

Panel-based Position Size Calculator is my latest product that provides traders with the best of what MetaTrader platform can currently offer — drag-and-drop design, minimization, fast inputs, tabbed layout, and so on. Its design allows for a much easier further customization and addition of new features. At the same time, it has some drawbacks compared the legacy version. For example, it cannot be increased or reduced in size without heavy code modification, while the legacy version’s size could be altered via font size manipulation.

Panel Position Size Calculator Screenshot

I personally, prefer to use the panel version in my own trading. Still, I would like to hear opinions of all the blog’s readers, especially those who prefer older version of the indicator or the web version of the calculator.

Which position size calculator do you prefer?

View Results

Loading ... Loading ...

If you want to share some details about the tools you use to calculate position size for your trades, please feel free to do so using the commentary form below.

3 Responses to “Poll: Which Version of Position Size Calculator Do You Prefer?”

  1. David Rey

    This calculator shows a 3% risk ratio, I have been taught and believe you should use a 2% risk ratio

    Reply

    Andriy Moraru Reply:

    This depends on your risk tolerance and the properties of your trading strategy.

    Reply

  2. Andy

    Even though I’m still currently using version 1.27 MT4 Main Window version, I’m going to vote for the graphical panel since it’s slowly but surely shaping up to provide many more useful features than the previous text based legacy editions. I will be moving over to it soon.

    Reply

Leave a Reply

required
required (will not be published)