Hi,
Here's a little 'present' for everybody (anybody interested).
I spent many hours 'trolling' the Internet trying to find a CFD Position Size Calculator. NOTHING!!! There must be HUNDREDS of different FOREX Position Size Calculators around but I found nothing for calculating your position size based on your risk / money management rules and which converts the CFD Price Quote Currency to your trading account's base currency and then determines position size (factoring in any commissions payable, if any, as well) and whether or not you can take the trade or not based on your risk / money management rules etc. As we ALL SHOULD know by now: risk / money management can 'make or break you' so I wrote this little application to make my life easier (I just got sick and tired of using a calculator or Excel for the same purpose).
Please do note: this version (the first version) is only valid for USD denominated accounts. The next version will allow the trader to set the base currency of their trading account (but that's not quite as easy a task as it may sound but 'I'll get there' if there is the necessary interest).
You have my word (and if nothing else THAT IS worth something): the application is virus free, spyware free, and the uninstaller will leave NOTHING behind on your PC if you decide that you don't wish to use the application.
Also: 'no tricks'. It's REALLY TOTALLY FREE (no 'trial version' or expires at a certain date or anything like that)!!! And feel free to distribute it to anyone else that you think that it may be of benefit to. There's no registration required or anything like that either. Like I said: this is REAL 'freeware' and I make it available in an effort to make life easier for those that are trading CFDs on Stocks, Indices, Futures, ETFs, and Gold and Silver (the 'wise' ones)!!! LOL!!!
Enjoy.
Any criticism or suggestions for improvement are most welcome.
If used with my broker and the API is installed and activated the application will automatically retrieve the spot FOREX rate to convert the CFD Price Quote Currency to USD before doing the calculations (but it can be used with any broker i.e. you just have to input the figures yourself is all but if you're trading on the shorter timeframes this can be a problem because sometimes, by the time you've input all your data and found the relative spot FOREX rate you may have already missed the trade unfortunately. At least that's what I was finding i.e. maybe I'm just 'a bit slow')!!! LOL!!!
Anyway: I hope it's useful to some (I wasn't QUITE sure where to post it so I figured a forum on Stocks and Commodities would be a good place)!!! LOL!!!
Regards,
Dale.
Here's a little 'present' for everybody (anybody interested).
I spent many hours 'trolling' the Internet trying to find a CFD Position Size Calculator. NOTHING!!! There must be HUNDREDS of different FOREX Position Size Calculators around but I found nothing for calculating your position size based on your risk / money management rules and which converts the CFD Price Quote Currency to your trading account's base currency and then determines position size (factoring in any commissions payable, if any, as well) and whether or not you can take the trade or not based on your risk / money management rules etc. As we ALL SHOULD know by now: risk / money management can 'make or break you' so I wrote this little application to make my life easier (I just got sick and tired of using a calculator or Excel for the same purpose).
Please do note: this version (the first version) is only valid for USD denominated accounts. The next version will allow the trader to set the base currency of their trading account (but that's not quite as easy a task as it may sound but 'I'll get there' if there is the necessary interest).
You have my word (and if nothing else THAT IS worth something): the application is virus free, spyware free, and the uninstaller will leave NOTHING behind on your PC if you decide that you don't wish to use the application.
Also: 'no tricks'. It's REALLY TOTALLY FREE (no 'trial version' or expires at a certain date or anything like that)!!! And feel free to distribute it to anyone else that you think that it may be of benefit to. There's no registration required or anything like that either. Like I said: this is REAL 'freeware' and I make it available in an effort to make life easier for those that are trading CFDs on Stocks, Indices, Futures, ETFs, and Gold and Silver (the 'wise' ones)!!! LOL!!!
Enjoy.
Any criticism or suggestions for improvement are most welcome.
If used with my broker and the API is installed and activated the application will automatically retrieve the spot FOREX rate to convert the CFD Price Quote Currency to USD before doing the calculations (but it can be used with any broker i.e. you just have to input the figures yourself is all but if you're trading on the shorter timeframes this can be a problem because sometimes, by the time you've input all your data and found the relative spot FOREX rate you may have already missed the trade unfortunately. At least that's what I was finding i.e. maybe I'm just 'a bit slow')!!! LOL!!!
Anyway: I hope it's useful to some (I wasn't QUITE sure where to post it so I figured a forum on Stocks and Commodities would be a good place)!!! LOL!!!
Regards,
Dale.