Useful lot size indicator!
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    Trader techboy's Avatar
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    Useful lot size indicator!

    We all know that implementing proper risk and money management in trading is very important so setting the proper lot size in every trade is must, but it takes time to compute the right lot size manually that will lead you to miss a trade especially if you are an intraday trader, I would like to share to you an indicator that will automatically display the right lot size base on the settings that we set, so you dont have to bother computing it manually, it will display the right lot size at the bottom of your chart.

    Just set the cost per pip, the stop loss and the percentage you want to risk and it will compute automatically based on your current balance, not the equity.

    Copy the file on the indicator folder of your MT4 folder and attached it in your chart.

    If you have questions just PM me or post it here!

    Hope this help!

    LotSize.ex4

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    Trader lawners1791's Avatar
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    yes i guess the use with the lot size function with the ea should helps enough as to work of the distinct on precision on counting of the number with the risks to put with the submission of order. as trader to spends of the better times on managing of the different customs on working with the rest with the requests on completing tasks with the trading jobs.

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    Quote Originally Posted by techboy View Post
    We all know that implementing proper risk and money management in trading is very important so setting the proper lot size in every trade is must, but it takes time to compute the right lot size manually that will lead you to miss a trade especially if you are an intraday trader, I would like to share to you an indicator that will automatically display the right lot size base on the settings that we set, so you dont have to bother computing it manually, it will display the right lot size at the bottom of your chart.

    Just set the cost per pip, the stop loss and the percentage you want to risk and it will compute automatically based on your current balance, not the equity.

    Copy the file on the indicator folder of your MT4 folder and attached it in your chart.

    If you have questions just PM me or post it here!

    Hope this help!

    LotSize.ex4
    Thanks for sharing this indicator, but I think you forgot to add some screenshots in this thread, please edit your thread and post some screenshots, I will use this indicator and will let you know but little bit confused that how I have to use this indicator. Hope you will act upon on my words and will share some pictures

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    This is good work put together. There are some benefits it can do for me the time will be looking to set the stop loss and my profits in a very fast moving market, it can make the fast placement for me. Except for the balance calculation it is using, it do not like that, it should be equity it suppose to make this calcualtion with.

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  5. #5
    Trader techboy's Avatar
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    Just attached the indicator in your chart, then adjust the necessary settings, the percentage you want to risk, the stop loss you use in your trade(applicable only to strategy that uses fix stop loss), then the amount per pip(pip cost). In a standard account 1pip = 10$, it may vary based on what currency pair you are using, USD/JPY,EUR/GBP and other vary in value, you need to know the value per pip of the particular currency pair. In pro_cent account it is just the same setting as standard account.If everything was set properly it will display at right bottom part of your chart. You need to attached the indicator to every chart you are using.

    lot.JPG

    lot2.JPG

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    Quote Originally Posted by silverlady View Post
    This is good work put together. There are some benefits it can do for me the time will be looking to set the stop loss and my profits in a very fast moving market, it can make the fast placement for me. Except for the balance calculation it is using, it do not like that, it should be equity it suppose to make this calcualtion with.
    The reason behind balance is used for the computation,because it is already the actual money that you got in your account,it will be harder to set your trade size based on equity because it is still changing every now and then, you may have a lower equity now but after a few minutes you may have a higher equity so its just logical that it uses the balance not the equity.

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    Last edited by techboy; 04-04-2015 at 10:03 AM.
    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    Quote Originally Posted by techboy View Post
    The reason behind balance is used for the computation,because it is already the actual money that you got in your account,it will be harder to set your trade size based on equity because it is still changing every now and then, you may have a lower equity now but after a few minutes you may have a higher equity so its just logical that it uses the balance not the equity.
    Yes, i know it is for computation, this is the reason it is serving for their calcualtion. This is not hard to use the equity for the computation. What you instruct the computer is what the computer will do, they may use the equity too. There is risk is using balance for this if the equity is lesser than the balance.

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    Trader lawners1791's Avatar
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    Quote Originally Posted by silverlady View Post
    Yes, i know it is for computation, this is the reason it is serving for their calcualtion. This is not hard to use the equity for the computation. What you instruct the computer is what the computer will do, they may use the equity too. There is risk is using balance for this if the equity is lesser than the balance.
    yes as those to work on defining of the point with the SL with each of order that the rest should called as by the beginning balance on referring of still with the lotsize value to put with the order.
    unless they ot put of the maximum order with the ea to work of the use with the rest by the margin equity.

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    This tool would do one thing and one thing only, it would help the trader to know the level of risk they are taking in the market, this is a strong serious work on its own, and traders should be very careful in using them. It is better to have the part of trading that gives beauty to management, this is why I love this kind of working tool. All traders need this if they are serious with risk management.

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    Trader Hukam's Avatar
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    Quote Originally Posted by cozard007 View Post
    This tool would do one thing and one thing only, it would help the trader to know the level of risk they are taking in the market, this is a strong serious work on its own, and traders should be very careful in using them. It is better to have the part of trading that gives beauty to management, this is why I love this kind of working tool. All traders need this if they are serious with risk management.
    The good thing about this tool is they could be aware with their current trading lot size, because it will show on their trading chart, so its a very good way to keep tell trader's that what they are doing in the current market. Even we can calculate our risk by following proper risk management but most of trader's don't focus much on risk management when they do trade in forex.

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    Quote Originally Posted by Hukam View Post
    The good thing about this tool is they could be aware with their current trading lot size, because it will show on their trading chart, so its a very good way to keep tell trader's that what they are doing in the current market. Even we can calculate our risk by following proper risk management but most of trader's don't focus much on risk management when they do trade in forex.
    Well, as this tool is good for traders in knowing the lots size they have in the market at present, traders can still choose to ignore it. So, it is even better to be conscious of this manually than automatically, and by this, you will build, your own managerial principles that would be helping you all the time. Except the trader could be serious about this tool on this thread.

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