Most of professional traders state that their success is based on strict risk management.
This simple tool is designed to show the correct lot size to trade with respect to the following basic risk management rules:
So, for example you have €2000 in your account, and you want to put an order on EURUSD with an emergency stop loss 191 pips from the order open value, what can be the correct lot size to trade?
The formula is:
The result, as you can see in following figure, is 0.02 lots.
With €2000 available, risk is 165 pips, to risk the 2% you have to trade USDJPY no more than 0.03 lots.
The indicator shows quantities already switched to the current account currency.
In order to change the indicator parameters, simply access indicator properties:
Range Action Verification Index (RAVI) with inverse Fisher transform.Chandes Quick Stick (Qstick)
Chandes Quick Stick (Qstick)
Chandelier exit indicator is designed to keep traders in a trend and prevent an early exit as long as the trend extends. Typically, the Chandelier Exit will be above prices during a downtrend and below prices during an uptrend.Reduce_risks
This is an MQL5 version of the Expert Advisor described in the article "How to reduce trader's risks" (https://www.mql5.com/en/articles/4233).