It's best to use some correlation indicator for that. This isn't a feature I would consider adding to the Position Sizer.
Position Sizer
- Thread starter Enivid
- Start date
- Watchers 373
Please add function for Max RISK size (by %) per symbol.
You currently only have option for Max position size.
I need to stop myself from placing more than 2% risk on the same symbol
So I need an option for disabling trades that is higher than my 2% limit
For example, I don't want to risk more than 2% on EURUSD.
So if I place 1% risk trades, then I don't want to place more than 2 trades (2%) on EURUSD.
You currently only have option for Max position size.
I need to stop myself from placing more than 2% risk on the same symbol
So I need an option for disabling trades that is higher than my 2% limit
For example, I don't want to risk more than 2% on EURUSD.
So if I place 1% risk trades, then I don't want to place more than 2 trades (2%) on EURUSD.
I am not sure what the purpose of this purple line does, and what function it could serve that is not being fulfilled by the other lines. This is in stop limit mode. Can someone please explain it to me? Can you please explain it in relation to the other lines shown in my screenshot?
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Hi Enivid, thank you for the wonderful EA, I don't have coding knowledge, but I am struggling a lot to add two functionalities to this tool. Again fingers crossed 🙂
1. Both Direction pending orders with single button.
2. Timer.
This is a gem.
You can also use the "Subtract open positions volume" to limit the maximum size of the trades you'd open. I will consider adding the max percentage risk limit, but I am not sure it can be achieved properly without overcomplicating both the code and the panel.
It's for a Stop Limit order type in MT5. You can read more about Stop Limit orders here:
https://www.earnforex.com/guides/pending-orders-in-forex-trading/#Stop_limit_orders
Basically, it's the stop price that when ti is hit, triggers the activation of the limit order.
Dear Enivid 🙂 mainly opening bidirectional pending orders (Multi TP) during news events on MT4, I am inspired by Newstrader EA (No Pending orders) and Amazing EA (No Multi TP), it is just feedback and thought it would be a good feature to discuss.
Understood. Yet I am not sure that the Position Sizer is well-suited for opening opposite pending orders.
Hi there, I don't know why everyti
me I go to Navigator and try to open PSC-Trader it says : Position Size Calculator not found..
plese can you help ?
me I go to Navigator and try to open PSC-Trader it says : Position Size Calculator not found..
plese can you help ?
PSC-Trader is a trade executing script that works only when the Position Size Calculator indicator is attached to the chart.
However, you shouldn't be using either of them because the latest version (Position Sizer) is an EA and works without a script.
Hey @Enivid, thanks for the awesome product. Works like a charm for me. The only thing that would have been even better is, if there would be option to input BE based on risk percantage rather than in points. When i'm executing instant trades my lot is constantly changing before executiopn. So when I input BE in points it is not always what i want because price movement (i'm traiding on m1 and m5). If there would be option to move to BE when price reaches certain % of risk, that would be awesome. Basically move to BE on certain RR achived. Cheers !
It can be used with macOS and MT5. Please read this thread. There are discussions of running the Position Sizer on MT5 on macOS. The main thing is not to use "Open Data Folder" to find the MQL5 folder, but to go there directly (depending on how you installed your MT5).
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