Hello Traders,
Based on an EA Tool I've recently coded, I've released an extremely user friendly risk calculator.
User needs to select the risk calculation mode out of three available modes:
1. Amount on risk.
2. Percent from balance on risk
and
3. Lot Size. This last mode is extremely interesting when managing opened positions. Trader already knows his Lot Size in trade and moves SL in the money, with TP at an even better price.
It will have 2 profit levels (positive), with Entry price outside the TP & SL interval.
We should take always in consideration that MT4 is built to accept only TP price > SL price for a BUY and SL Price > TP Price for a SELL. After position is opened, Entry Price does not matters anymore. Trader can place both SL and TP to finally take a loss or both SL and TP to take a profit (locking some profit).
So, this calculator allows user to place Entry price outside SL and TP price interval.
User should consider that makes sense to compute with fixed Lot Size (Lot Size mode) the risk when Entry price is outside the interval. This is because this occurs when position is already opened and Lot Size is known - except the situation that user plans to partially close the position and is interested to make some simulations with smaller lot sizes.
Here we have some screen shots with all 3 risk computation modes.
Trade safe,
Nicolae
Based on an EA Tool I've recently coded, I've released an extremely user friendly risk calculator.
User needs to select the risk calculation mode out of three available modes:
1. Amount on risk.
2. Percent from balance on risk
and
3. Lot Size. This last mode is extremely interesting when managing opened positions. Trader already knows his Lot Size in trade and moves SL in the money, with TP at an even better price.
It will have 2 profit levels (positive), with Entry price outside the TP & SL interval.
We should take always in consideration that MT4 is built to accept only TP price > SL price for a BUY and SL Price > TP Price for a SELL. After position is opened, Entry Price does not matters anymore. Trader can place both SL and TP to finally take a loss or both SL and TP to take a profit (locking some profit).
So, this calculator allows user to place Entry price outside SL and TP price interval.
User should consider that makes sense to compute with fixed Lot Size (Lot Size mode) the risk when Entry price is outside the interval. This is because this occurs when position is already opened and Lot Size is known - except the situation that user plans to partially close the position and is interested to make some simulations with smaller lot sizes.
Here we have some screen shots with all 3 risk computation modes.
Trade safe,
Nicolae
