Money Management Tool
Money Management Tool is used to calculate the position size according to predefined money management rules for either market order or pending order. Position size is calculated based on fixed position size OR % of account balance OR % of predetermined account value.
Stop loss and Take Profit lines are dragged to your desired levels. With a click of a button the Money Management Tool will execute the market order (BUY or SELL) or pending order (BUY STOP, BUY LIMIT, SELL LIMIT, SELL LIMIT) according to the values calculated by the Money Management Tool. The following values is taken into account when calculating position size: “Pip Value” (Each currency pair or instrument has its own pip value), “Difference between current price and Stop Loss line” OR “Difference between Pending Order line and Stop Loss line” and ”Money management method (% of acc, % of predetermined acc value, fixed lot size)”. See YouTube video for better explanation.