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Lot Size Risk Manager

Why do you need this script?

If you place lots of orders and re-calculate your risk for every order you placed, you definitely need such a script.

This script places one or (optional) two different orders with the following script inputs.


Utility parameters

  • Operation Type - "Buy","Sell","Buylimit","Selllimit","Buystop","Sellstop"
  • Price - Entry price of the order(s).
  • Stop Loss - Stop Loss of the order(s).
  • Take Profit 1 - Take Profit of the first order.
  • Take Profit 2 - Take Profit of the second order. (optional)
  • Risk Ratio % - Places new order(s) according to this Risk Ratio (%) of Free Margin


Calculation Example

Assume we need to open an order NZDJPY

  • Price: 81.720
  • Stop Loss: 80.900
  • Risk pips: 81.720 - 80.900 = 820 pips. (x)
  • Free Margin: 1280 $
  • Risk Ratio %: %2
  • Risk Amount: 1280 $ * %2 = 25.6 $ (y)
  • Ask (USDJPY): 113.672 (z)

Lot = (y * z) / ( x * contract size(NZDJPY) )

If Only Take Profit 1 is determined lot value is equal to above calculated Lot.

if Take Profit 1 & Take Profit 2 are determined 2 positions are placed with Lot / 2 and have the same Stop Loss values.

It is totally free , no time , no lot , no parity etc. limitations.

Please report any bug issue or free development request (volkanyurci@gmail.com) upon your needs.

jagorz
15
2018.01.22 16:51   

It would be nice this script could let you add comments to your operations.

Version 1.4 - 2017.04.13
Descriptions of input's are more understandable.
Risk %Ratio Input can be chosen from a drop down list.
Operation Type can be chosen from a drop down list.
Confirm screen is inserted just before executing the order.
Risk Amount is displayed on confirm screen in terms of trading currency.
Messages and Input values are formatted in Alerts and Message box.