FC Money Manager
This panel calculates Trade Size and Risk:Reward based on provided Risk Percent and Stoploss. It also shows PIP value, Spread, Potential Profit/Loss, Total Profit and Buy/Sell Volume for the symbol.
How to use
- Specify the risk
- Specify desired risk by clicking up or down arrow in front of (Risk Percent), the risk will increase or decrease by 0.1%. (Default Risk Percent is 0.1%)
- Then select whether Panel should calculate trade size on Equity or available Balance.
When "Balance" is selected as asset, the actual balance is calculated as (available balance + potential profit/loss).
Potential P/L: The sum of possible profit and loss it may occur, the difference between entry price and SL.
If SL is at a profit level the trade has potential profit, if at a break-even level, no profit no loss, otherwise it has potential loss.
- Visually locate Entry/TP/SL on the chart
Adjust three lines on the chart to define trade properties (Entry price, SL and TP), these lines are automatically plotted on the chart when Panel is attached to the chart.
The Panel is wise enough to detect whether trader intends to Buy or Sell by the following criteria:
- If SL is below Entry it assumes trader intends to Buy.
- If SL is above Entry it assumes trader intends to Sell.
- TP should be adjusted accordingly.
To protect money, all trades must come with SL, therefore if one trades comes without SL, whole money is at risk!!!
If Entry and SL lines are deleted from the chart, they will be created again with default values, but if TP line is removed it won't be created again, to redraw it again, change the time-frame or symbol of the chart, you may also remove the Panel and insert it again to have these lines redrawn, but this way, lines will be created by default values.
- There you go! That' all, Trade size is calculated and shown as Proper Lottage!
- Potential P/L: Calculated potential profit/loss for all open trades.
- Spread: Current and Maximum spread for current symbol per account.
- PIP Value: The value for each PIP (not point also know as Pipettes) for current symbol in account currency.
- Buy/Sell volume: Total Buy/Sell volume for open trades on current symbol.
- Profit:Total profit for open trades on current symbol.
- Risk:Reward: ratio for risk and reward in correct format : (1:#.#) for risk less than reward, (#.#:1) for risk greater than reward.
- Stoploss: Possible loss based on user-provided SL in account currency and in PIPs.
- Takeprofit: Possible profit based on user-provided TP in account currency and in PIPs.
- Proper Lottage: Calculated lottage for new trade based on asset and risk percent related to Stoploss PIP * PIP value.
- Lottage is compared with Minimum and Maximum allowed trading volume and lot step.
- Panel avoids overlapping on built-in one-click trading.
- Additional information is displayed below each line describing required margin and possible profit and loss and their asset share.
- Descriptions move as the chart is panned or resized.
- Asset and Risk Percent configuration is saved for each chart!
- Everything is set up visually and no inputs on Indicator properties.