Indicators: Lot calculator - risk management tool

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Lot calculator - risk management tool:

This tool allows you to calculate the correct lot size of the next trade by following some simple money management rules.

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:

  1. Risk only a fixed percentage of the total money on the account (e.g. 1-2%).
  2. Risk is measured by distance in pips between order opening to and emergency stop loss.

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:

F * R / (p * pv)

, where:

  • T - total account free margin.
  • R - risk.
  • p - pips between open order and stop loss.
  • pv - pip value (in the same currency as the account main currency).

The result, as you can see in following figure, is 0.02 lots.

When €2000 available, risk is 191 pips, to risk the 2% you have to trade no more than 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.

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:

indicator properties

Author: Alessio Leoncini

 
Thanks ! Very Useful !
 
Hello Antonio, I have the mt5 but of XM I have downloaded the files both zip that the other I have inserted in the indicator folder but do not appear when I go to open them. All the other indicators in the folder have two of files, how can I solve?
 
4111807:
Ciao Antonio,io ho la mt5 ma di XM ho scaricato i file sia zip che l'altro gli ho inseriti nella cartella indicatori ma non appiono quando vado ad aprirli.Tutti gli altri indicatori nella cartella ne hanno due di file,come posso risolvere?

Please post in English on this forum. Thanks.

 
4111807:
Ciao Antonio,io ho la mt5 ma di XM ho scaricato i file sia zip che l'altro gli ho inseriti nella cartella indicatori ma non appiono quando vado ad aprirli.Tutti gli altri indicatori nella cartella ne hanno due di file,come posso risolvere?

Hi,

you can try following steps:

  1. Download .mq5 file in a temporary directory
  2. Double click on it. It will be opened in your  Metaquotes Language Editor
  3. Click on the button "Compile"
  4. In your temporary directory, you will find a new file ex5. Double click on it.
  5. You can find now installed in the "Indicators" list the "Lot Calculator" in Metatrader 5.

 
Could you kindly create the mt4 version? Thank you
 
Absolutely neat and clean solution. Works on MT4 as well.
 
Hello Alessio,

Could you, please, modify this useful indicator to display information in another corner of the window? I.e upper right corner of the window or shift it down for couple of lines. I have another indicator running that already displays information in the upper left corner. Thank you!
 

I have downloaded the lot_calculator.  When I double click on it it opens Parallels.  I would like to install it on the Mac version of MT5.  How do I go about downloading and installing this indicator on the Mac version of MT5?  Pleazzzze help!

 
Sleek and simple
 
good
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