Hey guys,
I spent the weekend coding a risk management calculator that I will be offering on my <custom indicators> page for FREE. One of the leading contributers to blown accounts is improper risk management. Calculating how much you stand to lose for each trade can be difficult, and a lot of new traders don't know how to properly manage their risk.
This indicator displays your exact risk for the trade identified through user inputs. Users put in what percent of their account they would like to trade with (e.g. trade with 100% or 75% of balance, etc). Next input open price, stop loss price, and target (optional). Next enter how much risk you are willing to take for this trade. And that's it - the indicator will calculate the correct lot size for the trade information you've entered.
Indicator displays:
- Your current account balance
- Your usable account balance (as specified by the balance percent)
- Your risk appetite (what percent you're willing to lose)
- The maximum loss if stop is hit (at the optimal lot size)
- The maximum gain if your target is hit (at the optimal lot size, if you entered a target price)
- AND MOST IMPORTANTLY: the correct lot size for executing that trade.
The indicator adjusts lot size for the currency chart it is attached to and automatically calculates the pip value for that specific currency... no more annoying calculations for crosses, this indicator does it all for you.
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| Risk Calculator |
