Hi, is there a way to let the indicator show the total open risk on a certain currency. Like if I have two trades open, one on USDJPY for 1% short and one on GBPJPY 1% short, the total risk open on JPY would be 2% short....
But it gives the total risk of the whole portfolio. Not per currency. So I see 2% risk, but not on which currency. Because in my example I have 2% risk on the JPY short, but in the same time I have 1% risk long on the GBP and also 1% long on the USD. Or am I missing something here?
And what if I hedge a 2% trade for the JPY long. Is my risk than back to 0%? In that case this is not working for me because I want to know my overall risk and I'm not interested in taking more and more positions because they hedge eachother. Just want to risk a certain amount per currency long and/or short. Does that make sense? 😛
No, it doesn't work on per currency basis, it works on per currency pair basis. In your example, you should see 1% risk for USD/JPY and 1% risk for GBP/JPY. This isn't something I am planning to change anytime soon because the code is already overly complex. However, you are free to make suggestions on how this potentially could be implemented.
I see... But how correct (or useful) would such representation be? After all, it implies that you are risking 7%, which of course isn't the case. BTW, shouldn't it be CAD short 2%?
Ow yes...would be cad 2%.
For my personal risk management I have max risk per currency. So the total amount of risk doesn't matter.
Version 1.09 released to fix a calculation bug in MT5. No need to upgrade if you use the MT4 version.
In theory, it could be coded like that - first, calculate potential risk for the open trades, then calculate potential risk for all pending orders like if there are no open trades. But what would be the point?
Hi
Hi,
What I try to do is , for orders that are triggered and active, I let the market do its thing. But for pending orders, I may enter a limit order , for example, and I may want to adjust the order size along the way, before it is triggered, when I see additional opportunities elsewhere. I do so , {as in constantly adjust my pending positions}, in order to maintain my overall potential risk at a certain level. Right now, I do it manually, which can be time consuming or too slow..I found the Risk Calculator extremely useful. Would appreciate if u can help. Thanks
Hi,
What I try to do is , for orders that are triggered and active, I let the market do its thing. But for pending orders, I may enter a limit order , for example, and I may want to adjust the order size along the way, before it is triggered, when I see additional opportunities elsewhere. I do so , {as in constantly adjust my pending positions}, in order to maintain my overall potential risk at a certain level. Right now, I do it manually, which can be time consuming or too slow..I found the Risk Calculator extremely useful. Would appreciate if u can help. Thanks
Version 1.10 released to improve unit cost calculation in MT4. No need to upgrade if you use the MT5 version.
Version 1.11 of Risk Calculator indicator released. It implements the separate calculation feature requested by @kizac72.
The indicator is now also available on GitHub:
https://github.com/EarnForex/RiskCalculator
The indicator is now also available on GitHub:
https://github.com/EarnForex/RiskCalculator
@sandhu1990 You need to unpack both Indicators and Include folders into your MQL4 folder. Judging from the errors - it looks like some files are missing.
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