Percentage risk based on SL | Forex Factory

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Percentage risk based on SL

  • #1
  • First Post: Aug 2, 2010 8:43am Aug 2, 2010 8:43am
Hello,

I created an EA using an automated program but it doesn't have a feature I want regarding the lot size. My EA calculates a variable SL on each trade (based on indicators). I would like to have a variable lot size, one that is based on the SL and which calculates a percentage risk of the account.

For example, if my account has $10,000 and my SL is 100 pips on a particular trade and my risk is set at 1%, then the EA would calculate a lot size of 0.1 lots, so that if it hits the SL, my account loss would be $100 or 1%.

I would please ask: is there someone who can provide me with the few lines of code to insert for such a money management feature?

Thanks for your help.
  • #2
  • Aug 3, 2010 10:37am Aug 3, 2010 10:37am
Check out this thread
  • #3
  • Aug 3, 2010 6:51pm Aug 3, 2010 6:51pm
I will take a look, thanks for your help NowAndLater!
  • #4
  • Aug 3, 2010 11:28pm Aug 3, 2010 11:28pm
function for counting SL points, you can skip this part if you use explicit SL variable in point according to broker type (4 or 5 digits quotes):
Var price1 & price2 ~ entry & stoploss price.
Inserted Code
int countSLPoints(double price1,double price2){
   int SLPoints;
   SLPoints = NormalizeDouble(MathAbs(price1-price2)/Point,0);
   return(SLPoints);
}
function for calculating lots:
SLpoints : from value returned from above function.
equity : AccountEquity() or AccountBalance() or manually set variable as your core equity number.
risk : dbl value between 0 to 1 (of equity, not risk percentage)
Inserted Code
double positionSizing(int SLpoints, double equity, double risk){
   double lotsize;
   int min_size_digits;

   //check account type (micro / mini / normal)
   if (MarketInfo( Symbol(), MODE_LOTSTEP)==0.001) min_size_digits=3;
   if (MarketInfo( Symbol(), MODE_LOTSTEP)==0.01) min_size_digits=2;
   if (MarketInfo( Symbol(), MODE_LOTSTEP)==0.1) min_size_digits=1;
   if (MarketInfo( Symbol(), MODE_LOTSTEP)==1) min_size_digits=0;

   //watchout this part is not using AccountFreeMargin() to check availability, so use apropriate stoploss value (not to overly supertight SLs)
   lotsize = equity*risk/SLpoints/(MarketInfo(Symbol(),MODE_TICKVALUE));
   if (lotsize<MarketInfo( Symbol(), MODE_MINLOT) )lotsize=MarketInfo( Symbol(), MODE_MINLOT);
   if (lotsize>MarketInfo( Symbol(), MODE_MAXLOT) )lotsize=MarketInfo( Symbol(), MODE_MAXLOT);
   lotsize=NormalizeDouble(lotsize,min_size_digits);
   return(lotsize);
}
  • #5
  • Oct 7, 2016 1:41am Oct 7, 2016 1:41am
I have tried to include a code into my RSI Ea which controls the lot size depending on the account balance, account equity, swaps , commission and taxes but is somehow a challenge. I would also like to use a variable take profit now based on the lot size. Some help on the codes to insert would be really appreciated....
  • #6
  • Last Post: Oct 10, 2016 8:27am Oct 10, 2016 8:27am
There you go:
http://www.forexfactory.com/showthread.php?t=281772
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