Trade Man Indicator
The Trade Man Indicator is about knowing your risk level as you trade. It's about keeping up
with the important financial and trading details that either build your account or tear it down.
Here's how it looks on screen.
- Recommended lot size to stay in your risk comfort zone,
- Your nominal stop loss,
- A recommended stop loss based on average bar height and spread,
- How many lots you have open,
- Your monetary risk from all open orders on multiple currencies,
- How many lots are still available,
- The open position risk,
- The risk in both quote currency and your own account currency,
- The open position profit/loss,
- The day's profit/loss,
- Time left in the bar,
You can adjust the stop loss calculation for each timeframe in a currency pair to match your trading system. You can demo trade with a fixed account balance, or base it entirely on the actual balance for live trade. We display money totals in your own currency, since you can have several orders open at once in different quote currencies.
The lot size calculation is based on:
AmountToRiskPerTrade = Account Size * PercentRisk
AmountToRiskPerTrade
MaxRiskPerPip = ----------------------------------
Our Stop Loss in Pips
MaxRiskPerPip
Lot Size = -----------------
ValuePerPipPerLot
where ValuePerPipPerLot is the value of each pip of price change, per full lot traded, to either make or lose money. This value is set by your broker for a standard lot size. Normally that is around $10/pip per full lot for a currency like the EURUSD.
This indicator has been tested on both 4 and 5 digit brokers. The 5 digits make the pips look too big to those of us used to 4 digits but it's not a problem. It's actually correct that instead of 20 pips (on 4 digit) you now have 200 pips (on 5 digits) , but they are 1/10 the value of the larger pips so the money comes out the same.
VERY IMPORTANT: It handles simultaneous, multiple open orders on multiple
currency pairs and tells you the total monetary risk in your own currency.
You can move the display around to four different corners of your screen.
TRADE MAN Indicator: $18, Includes a 5 page PDF on setup and use.
Immediate email delivery of the download link. Secure payment by paypal