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Money management question

  • #1
  • First Post: Jan 20, 2008 8:30am Jan 20, 2008 8:30am
Hello all!

I'm looking for a piece of code that calculate the amount of money to put into a trade as a fixed precentage of the account's worst-case balance.
Now, I know the "fx maney management" indicator that was published in the past.
The problem with that code and a lot of other similar indicators, that it is not taking into considaration other open positions.
What I mean is, that if I want to put 1% of my account into a trade, but I already has an open position(s), I want to calculate the amount of money to put into the new trade as a precentage from the account's worst-case-balance ("worst case" = if the existing opened position(s) will hit SL...)

Does anyone know a code to do that (calculating the current worst-case-balance)?

Thanks !
  • #2
  • Jan 20, 2008 12:16pm Jan 20, 2008 12:16pm
It sounds to me very basic.. No one done it?
  • #3
  • Jan 20, 2008 12:40pm Jan 20, 2008 12:40pm
Why not just keep an excel spreadsheet of your trades and your running balance at the bottom. when you enter a trade enter your live entry price and then enter your SL price as exit so the balance shows if you do get stoped out there would be the balance. then keep a cell to the side that is a multiple of that balance for trading size. ie 1% 2% 3% risk for your next live trade. As you trades unfold (either SL or Target) make the necessary changes.

hope that helps.

doug
  • #4
  • Jan 20, 2008 1:09pm Jan 20, 2008 1:09pm
Quoting drkyle
Why not just keep an excel spreadsheet of your trades and your running balance at the bottom. when you enter a trade enter your live entry price and then enter your SL price as exit so the balance shows if you do get stoped out there would be the balance. then keep a cell to the side that is a multiple of that balance for trading size. ie 1% 2% 3% risk for your next live trade. As you trades unfold (either SL or Target) make the necessary changes.

hope that helps.

doug
10X !
But I need a code to do it as part of a different expert advisor I have... It need to be automatically...
  • #5
  • Jan 21, 2008 5:35am Jan 21, 2008 5:35am
Hello Yaniv ,
send me a PM with all details that i can help you and share the code.


Best Regards,
Marcelo Marques
  • #6
  • Jan 21, 2008 6:46am Jan 21, 2008 6:46am
Need The Same Service
  • #7
  • Jan 21, 2008 6:59am Jan 21, 2008 6:59am
Look for Moving Average EA in MQL4 forum. It uses lot size based on AccountFreeMargin() plus total profit/losses prior to opening new position. In case you don't know, AccountFreeMargin() is not the same with AccountEquity().
  • #8
  • Last Post: Jan 22, 2008 2:56am Jan 22, 2008 2:56am
Quoting badthriller
talking about money management, it needs a strategy as well. i got hold of a strategy called 'the code' by jordan knight and it turned all my previously losing strategies (ones that i purchased for high prices) into winning ones. he calls it strategy for strategies and I couldn't agree more. take a look here
http://forex.thefxcode.com/
Common man, if you're gonna promote your own e-book, at least be upfront that this is your own product.
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