How do you usually exeute trades calculated by Position Size Calculator?

  • Manually

    Votes: 12 15.2%
  • PSC-Trader script with a mouse click

    Votes: 13 16.5%
  • PSC-Trader with a keyboard shortcut

    Votes: 51 64.6%
  • Using third-party trading panel

    Votes: 2 2.5%
  • Other (please provide details)

    Votes: 1 1.3%

  • Total voters
    79
  • Poll closed .
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Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
OK thank you, It's amazing how many things are discreetly going on in the background.

On a final note, does this fixed-risk, quote currency and lot amount have a calculation/formula/equation that you could share with me?
 

caele

Trader
Dec 19, 2015
12
2
19
34
Is it possible that you would ever try to make the tool able to actually place orders, as a buy stop with the calculated lot size and a stop loss to that order all from where the user has placed the order lines using the calculator, with with one click?

Doing this would make it much more then a calculator but also extremely valuable and time saving.
Seems like a big project to me but I really don´t know so that´s why I am asking and wondering if you ever thought about it.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,530
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www.earnforex.com
On a final note, does this fixed-risk, quote currency and lot amount have a calculation/formula/equation that you could share with me?

It's in the code:

MQL4:
PositionSize = RoundDown(RiskMoney / (StopLoss * UnitCost / TickSize + 2 * sets.CommissionPerLot), 2);

Is it possible that you would ever try to make the tool able to actually place orders, as a buy stop with the calculated lot size and a stop loss to that order all from where the user has placed the order lines using the calculator, with with one click?

Doing this would make it much more then a calculator but also extremely valuable and time saving.
Seems like a big project to me but I really don´t know so that´s why I am asking and wondering if you ever thought about it.
That can already be done with a script.
 

Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
Ah yes the code...

I think I will have to draw up a dynamic money risk system so that if the market is trading between say 1.20001 and 1.30000, risk X amount. And if the market is trading between 1.30001 and 1.40000 then risk Y amount and so on. It won't completely maximise my risk for every trade but it saves me from having to actively manage it so much.

This may seem strange to some people why I'm so bothered by this but the fact is that, up to £50,000 the money with my broker is protected by the FSCS and I want to stay under 100 lots per trade, per market (I only trade GBPUSD). After 100 lots, leverage is lowered from 1:500 to 1:200 which would dramatically increase my total capital requirement to over £50,000 and therefore it will be unprotected (as well as increase my margin costs by 2.5 times).
 

chris wicklow

Trader
Oct 19, 2016
11
0
22
41
Hi I use the legacy version of this calculator fantastic tool really helped me THANKS, I see there is a script as-well which I am unsure of what exactly it is, auto entry / exit ?? which i'm not interested in. But I am looking for a tool that can can automatically cut 50% of my position size at a take profit level as sometimes my targets are hit and I'm not quick enough or at the screen to cut manually can this script do this or is there any other tool that can be recommended THANKS
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,530
1,355
144
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www.earnforex.com
Chris,

Thank you for using our tool. Do you just want to partially close a trade at TP instead of a full-close? That would take creating a rather specialized expert advisor. You might consider trading without TP, setting price alert at the TP level instead, and then partially-closing manually when the alert triggers.
 

chris wicklow

Trader
Oct 19, 2016
11
0
22
41
Chris,

Thank you for using our tool. Do you just want to partially close a trade at TP instead of a full-close? That would take creating a rather specialized expert advisor. You might consider trading without TP, setting price alert at the TP level instead, and then partially-closing manually when the alert triggers.
Thanks for the reply yes I mean partially closing trade at a take profit level EG; cut 50% of lot size at target 1 or 1R value (= break even trade) to protect capital (instead of moving stop to entry point ) then I can let the trade run with 0 risk. if I'm trading 5m or 15m chart it can move quite quick and an order would execute better than me. Many thanks
 

Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
OK so...I had some spare time earlier today and I hopped onto a demo account and installed the latest 2.02 PSC for MT4.
A few things I've noticed, I will list them below.

1) Every time I close and re-open MT4, the PSC does not re-appear where I left it. It seems to return to a default starting point which is the top left corner of my chart. And it starts maximised every time too.

2) Is there anyway to add a close indicator confirmation box of some sort? Or even move the 'x' to the other top corner away from the minimise and restore buttons? A few times today when I've gone to either minimise or restore the PSC I have accidentally clicked the little 'x' which completely removed the PSC from my chart.

3) When the 'Hide lines' option is activated, how about not allowing the script to place a trade until the lines have been re-enabled and are visible once again?

4) Another script tab bump : )

But overall a really fantastic job, well done and thank you.
 
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Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
5) When the indicator has been attached to my chart and has been initially configured, if I then right-click on my chart, go to indicator list and bring up the PSC input parameter settings list, even if I change a setting or not, as soon as I click on 'Ok', the PSC is completely removed from my chart (But the lines and their labels are left where they were).
 
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Reactions: Enivid

Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
Just to confirm, does the current and will all future PSC Indicator and Script versions fully support both Instant and Market execution types?

And on that note...what is your view on the whole Instant Execution = Dealing Desk topic? do you think this is generally correct? and do you think that out of the two execution types that Market Execution is the most legitimate?

Cheers.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,530
1,355
144
Odesa
www.earnforex.com
Just to confirm, does the current and will all future PSC Indicator and Script versions fully support both Instant and Market execution types?
Yes.

And on that note...what is your view on the whole Instant Execution = Dealing Desk topic? do you think this is generally correct? and do you think that out of the two execution types that Market Execution is the most legitimate?

Depends on how you define Dealing Desk in this context. No, I do not think that any of the two executions is more or less legitimate.
 

boa_conflictor

Master Trader
Aug 5, 2016
75
9
69
Hi,
Due to issues with the legacy version i installed the latest ver. 2.02, 2016-09-23, but for me it doesn't work?

When i try to add PSC to my chart, nothing happens...
 

boa_conflictor

Master Trader
Aug 5, 2016
75
9
69
Thanks for the quick reply!

The output in the experts tab:
2016.10.31 11:07:33.488 cannot open file 'C:\Users\User\AppData\Roaming\MetaQuotes\Terminal\2010C2441A263399B34F537D91A53AC9\MQL4\indicators\PositionSizeCalculator.ex4' [2]

I use the MT4 version.

It's a great tool, and i really miss it now... :)
 

boa_conflictor

Master Trader
Aug 5, 2016
75
9
69
At first i did not compile it, but now i did and it seems to work fine now. :)

I don't know what you mean with why it is not in the PositionSizeCalculator subfolder? I just copy/pasted this version to the indicator folder, but before i did this i deleted the legacy version first...maybe this is what you mean with subfolder?
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,530
1,355
144
Odesa
www.earnforex.com
What I mean is that the indicator's archive contains a subfolder with files:

psc-subfolder.png
It is not a problem if you copied the files outside the subfolder and placed them directly into /MQL4/Indicators/. I just thought that maybe you were trying to load some previous version, which I had been bundling in the archive without a subfolder.
 

boa_conflictor

Master Trader
Aug 5, 2016
75
9
69
No, i copied the files and placed them directly into /MQL4/Indicators/.

Anyway...now it's working, and with the addition of the PSC script it's working like a charm.
Personally i find this the best PSC outthere, yes there are more....but not like this one.

I don't believe in indicators, but this one rocks! ;)

Great job, thank you for your effort, really appreciated!

Cheers!
 

boa_conflictor

Master Trader
Aug 5, 2016
75
9
69
Wow!....:(

I guess my previous post was a bit premature. I used it flawless for some time, but now i restarted my device and as soon as i want to add PSC to the chart, MT4 freezes badly. It is still online, but that is about the only thing what is working. The only way to get things back to normal is to shut it down with taskmanager, but every time i want to add PSC to the charts this happens.

The expert tab informs that the PSC indicator is added succesfully???

I deleted all the files, restarted MT4, put the files back into /MQL4/Indicators/ folder, but the issue is still there....
 
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