Money Management software

I'm looking for Money Management software.

Sofar I've found:
- http://www.trader-soft.com/software/...-explorer.html
- www.adaptrade.com -> the best I found sofar.
- Some other tools that are not even worth the diskspace

I'm sure there are many more.
Can someone please point me to some websites?

And ofcourse tools to convert MT4 reports to a readble format for the above tools is are very welcome too.

I use MSA from www.adaptrade.com. It is a very impressive program and ridiculously underpriced.

Indeed it looks very impressive.
Do you have other favorites?
I want to demo some programs before I make my buying decision.

I never really looked at another program at much as I did MSA. You can get a 30 day demo of the software. The author also writes a series of free money management newsletters which are excellent. Google his name and you will find them.

Sorry to hijack, but how well does MSA work with Forex? It says it's only compatible with Stocks and Futures. Do you just use the futures setting and set the value of each point to that of one pip?

Sorry for the newbie question, but I've never traded Futures before so I don't know if they use four decimal precision like forex, or if you have to multiply all the Forex prices by 100, etc.

You are correct. I discussed this with the author of the software and he told me to use the futures setting. It works just fine. I think there is a version 3 coming out in the near future and it might be more forex friendly.

You should call Mike, he will answer all of your questions. His understanding of money management is on a different level than most of us.

No FX support in the next version


From todays e-mail:

I'm disappointed to hear that, but the current release works just fine on fx when set to the futures setting.

I am a total noob in FX & MM and I am having difficulty with understanding Market System Analyzer L
Could you explain it to me as if I am 2 year old, step by step with examples?
Alpari FX, Margin 1:500, Margin per 0.01 Lot is 3 USD
USDJPY trades are

Historically max loss was -9.29 USD for Lot 0.01, but stoploss is possible -16 USD loss for 0.01 Lot
And according to Metatrader 4 trading charts, price on multiple occasions was very close to hitting stoploss -16 USD before bouncing back and closing in profits or less losses.
Thus, I put in MSA that maximum risk was -16 USD for each 0.01 LOT as my strategy dictates
Initial Balance in MSA 1000 USD
Max lot size 10 000, because Alpari FX allows max 100 Lots 100 /0.01 = 10 000 MSA lots
Initial Margin Per Contract 4$, in reality Alpari wants 2 USD margin for USDJPY if leverage 1:500
Just to be safe
Monte Carlo 10 000 samples, F7 Optimize Position Size, Fixed Fraction from Equity
These are historical trades
12.52
12.48
1.52
5.68
6.48
-1.95
-1.92
6.1
9.58
5.24
-4.96
14.33
15.69
6.58
7.38
11.96
11.24
4.64
5.85
14.56
8.39
4.31
9.07
1.02
-3.12
-0.18
3.18
-9.29
-4.54
6.41
5.55
12.75
12.49
-0.14
18.17
22.79
-2.3
-1.33
21.17
7.55

usdjpy.msa
Position Sizing: Fixed Risk
Fixed Fraction (%): 100.0 (Optimal)
Starting Equity: $1,000.00
Equity High: $1,542,937.19
Equity Low: $156.22
Net Profit: $1,541,937.19
Final Equity: $1,542,937.19
Return on Starting Equity: 154200.%
Number of Trades: 41
Percent Profitable: 73.17%
Max Contracts: 10,000
Largest Win: $227,900.00
Ave Win: $51,428.94
Max Consec Wins: 26
Largest Loss: ($334.44)
Ave Loss: ($84.63)
Max Consec Losses: 7
Win - Loss Ratio: 607.7
Ave Trade: $37,608.22
Ave Trade (%): 24.10%
Max Drawdown: $843.78
Max Drawdown (%): 84.38%
Profit Factor: 1657.
Return - Drawdown Ratio: 1827.
Modified Sharpe Ratio: 0.7725

100% or even 150% of equity Optimal Fixed Fraction, really?
What is it mean?
I have to risk 100% of my account on each trade?
How should I use MSA results then?


Here is answer from MSA creator
Youre not understanding how the program works. 100% fixed fraction doesnt mean you risk 100%. It only risk up to the maximum position size. You could put a fixed fraction of 10000000%, and you wouldnt be risking any more than the maximum size. Thats why you have a maximum size. The 100% result is just what the optimization gives you because you set a hard limit on the size. Thats why I suggested you use the Parameter Studies feature so you can see how the fixed fraction is related to the results.

MSA has been used by over 1000 traders for more than 10 years, including many professional money managers. The calculations have been fully verified. Im sorry if the functionality of the program is not clearer.

I calculate lot size like this
double current_balance = 0;

int nOrders = 0; datetime OCTs[];
for(int iPos=(OrdersHistoryTotal()-1); iPos >= 0; iPos--) if (
OrderSelect(iPos, SELECT_BY_POS, MODE_HISTORY) // Only orders w/
&& OrderMagicNumber() == Magic // my magic number
&& OrderSymbol() == Symbol() // and my pair.
&& OrderType() <= OP_SELL//Avoid cr/bal forum.mql4.com/32363#325360
)
{

double True_Profit = OrderProfit()+OrderSwap()+OrderCommission();
current_balance += True_Profit;
if (debug) Print("True Profit="+True_Profit+";current_balance="+current_balance+";OrderProfit="+OrderProfit()+";OrderSwap()="+OrderSwap()+";OrderCommission()="+OrderCommission()+";OrderType()="+OrderType()+";OrderOpenPrice="+OrderOpenPrice()+";OrderClosePrice="+OrderClosePrice()+";OrderOpenTime()="+OrderOpenTime()+";OrderTicket()="+OrderTicket()+";OrderLots()="+OrderLots());
// current_balance
// double profit = (OrderClosePrice()-OrderOpenPrice())*OrderLots()*MarketInfo(OrderSymbol(),MODE_TICKVALUE)/Point;
//if (debug) Print ("profit="+profit);
}
current_balance += initial_deposit;

if (debug) Print(Symbol() +";AccountFreeMargin()="+AccountFreeMargin()+";initial_deposit="+initial_deposit+"; current_balance="+current_balance);

current_balance=current_balance*0.95;
double normalized_balance = NormalizeDouble(current_balance,2);
double RiskDollars = (RiskPercent/100) *normalized_balance;
RiskDollars = NormalizeDouble(RiskDollars,0);
// slippage? spread?
double RiskStopLoss = StopLoss*10 +Slippage*10+MarketInfo(Symbol(), MODE_SPREAD);


double pip_value = (MarketInfo(Symbol(), MODE_TICKVALUE)/ MarketInfo(Symbol(), MODE_TICKSIZE)) * Point; // true stable pip value in USD deposit currency
Print (" RiskDollars="+ RiskDollars+";RiskStopLoss="+RiskStopLoss+";pip_value="+pip_value+";1 lot risk RSL*pipvalue="+(pip_value*RiskStopLoss));
LotSize = NormalizeDouble( RiskDollars/(pip_value*RiskStopLoss),2) ;



http://postimg.org/gallery/z33u7clg/3532b517/
file:///C:/Users/alien/AppData/Local/Temp/msohtmlclip1/01/clip_image002.jpg


file:///C:/Users/alien/AppData/Local/Temp/msohtmlclip1/01/clip_image003.png