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Author Topic: Position Size Calculator (for manual trading)  (Read 15071 times)

Offline CanadianPsycho

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Position Size Calculator (for manual trading)
« on: October 22, 2017, 11:08:25 PM »
So I came across this really cool tool for manual trades and it looks like it's only ever gotten a quick mention on this forum several years ago in a separate topic. I'm talking about Position Size Calculator by earnforex.com. It's an indicator you can attach to a chart and input Entry, S/L and T/P targets along with risk levels and even your trade commission and it'll calculate the lot size you should be using in your trade.

You can get it for free from here by scrolling to the bottom of the extensive instructions page.

https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/

You can also download a script there which will let the indicator place your trade for you.

The indicator and the script are available for MT4 and MT5.

It's pretty nifty!

Oh, and important to note that if you want to use the script to execute a trade for you based off the lot size calculator, auto trading must be turned on in your mt4 terminal.
« Last Edit: October 23, 2017, 06:03:41 AM by CanadianPsycho »

Offline JuanG

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    • Forex market
Re: Position Size Calculator (for manual trading)
« Reply #1 on: November 14, 2017, 04:24:01 PM »
Thanks for the pisition calculator, I have one similar tools, I use how calculate the lot size you should be using in your trade is https://alpari.com/en/faq/trading_terms/calculating_value_of_pip/
Is interesting have one tools for I know how much is one pip in each entry in the market

Offline Paul.Trafford

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  • Posts: 428
Re: Position Size Calculator (for manual trading)
« Reply #2 on: November 16, 2017, 03:03:40 PM »
So I came across this really cool tool for manual trades and it looks like it's only ever gotten a quick mention on this forum several years ago in a separate topic. I'm talking about Position Size Calculator by earnforex.com. It's an indicator you can attach to a chart and input Entry, S/L and T/P targets along with risk levels and even your trade commission and it'll calculate the lot size you should be using in your trade.

You can get it for free from here by scrolling to the bottom of the extensive instructions page.

https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/

You can also download a script there which will let the indicator place your trade for you.

The indicator and the script are available for MT4 and MT5.

It's pretty nifty!

Oh, and important to note that if you want to use the script to execute a trade for you based off the lot size calculator, auto trading must be turned on in your mt4 terminal.

Many thanks for sharing this ! Very useful. Cheers

Offline dvid

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  • Posts: 4
Re: Position Size Calculator (for manual trading)
« Reply #3 on: May 28, 2018, 12:12:37 PM »
Thanks for the calculator, it really saves time with position management.

Offline idave

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  • Posts: 4
Re: Position Size Calculator (for manual trading)
« Reply #4 on: June 02, 2018, 09:34:18 AM »
Thanks for the calculator, I have anther one which I use

https://www.myfxbook.com/en/forex-calculators/position-size

 

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