Hi
I know that there is someone in this community who can assist me please. I missed way too many math classes in my schooling career, but to save face, I do have a Honours in Law (so two degrees):)
I would like to know how to apply this formula from the Turtle Traders to my account with a leverage of 1:50. It is the volatility adjusted position sizing units method. What I would really appreciate is a MQL4/5 indicator which I can import which will calculate it for me automatically. Say my account is U$10 000. I just do not understand how on earth one can decide on how big the unit size must be without your SL or deciding upfront how much one would risk per pip movement.
Unit= 1% of account
N x Dollars per point
This is the link which explains the variables. http://bigpicture.typepad.com/comments/files/turtlerules.pdf
Thank you so much and God bless.
Stoopdog
