Money Management

Hi

 

I would like to request that for money management you can use a variable or indicator that provides the size in lots of the next trade.

 

Then I can use an indicator etc that has more sophisticated calculations like increasing or decreasing after a loss / profit.

 

Thanks.

Hello,

 

that is possible also now, just define a new variable with type double in Strategy parameters in EA Wizard.

 

Then you can assign any value there and use it for money management.

 

Just choose Use lots from variable in Quantity dialog in Enter at Market/Stop/Limit.

There are two ways.

 

If you don’t use an SL for a creepy reason (hedging, or scaling in etc.), but you want to use flexible sizes, then:

1. make a double parameter (e.g. Quantity1)

2. make a rule IF (something that is always true eg. balance>0) THEN assign variable

3. if you want to trade with 1lots for a 10k $ balance for example, you have to divide the 1 with 10000, and use that ratio to multiply the current balance.

4. in this case assign variable: “Quantity1” to this (1/10000 * Balance)

5. turn the quantity of the order to the variable Quantity1

 

The other is when you want to increase or decrease the risk after a loss/profit.

1. use money management, where the risk is a parameter (“Risk”)

2. make a rule where IF closed P/L in money > 0 THEN assign variable (“Risk” + ‘1’ or whatever you want)

3. after some point you will want to assign it back to the original state with a new rule like if Risk bigger then 5 or or smaller 0,2 THEN Assign variable risk into 1

 

And of course you can combine the two above.