What I am looking for is a panel that I can place trades from according to my money management plan.
Here are the required fields and what I want it to accomplish:
Buy, Sell, and Close All buttons: these are pretty self explanatory
Risk: Either entered as a percentage of equity or a specific dollar amount
SL: Stop loss in pips
RR ratio: enter in where the TP is in accordance to SL. Example: I have my SL at 8 pips, I am going for a 1:1.2 RR so I would have 1.2 entered in this field, then it would automatically place the TP at 8 x 1.2 = 9.6 pips in profit
Commissions: Commission structure at brokerage, 8.00 for $8 per round trip per standard lot
Number of Trades: this number would break up the total trade into multiples, for letting a trade run (isn't entirely necessary if it is complex to do)
How I would like to use it:
I want to be able to have a specific dollar amount risked, have the sl in pips, and then the tp automatically calculated. When a trade is placed, I want it to take that all into account, along with spread and commissions, so that if it his SL I would lose that dollar amount risked, or very close to it. Then it would also be factored into profits on the winning side. The big thing is that is calculates position size accordingly to all the factors.
20% / 51%