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Just a suggestion to make the MM even more useful.
What about instead of setting figures for open price and stop loss having a bool for 'UseAsk' for ask or (false) bid. then the stop loss could just be number of pips instead of a set amount. It would just make it simpler to use I think.
Just an idea.
Take care
Lux
PS: Did you test it on Interbank too? Looks like it's not reading the suffix 'm' to me (could be wrong).
I have not tested this indicator at all -- all i have done is give it the ability to appear in a separate window and added a couple of extra lines of info plus a few text adjustments so i cannot comment on how it works on interbank.
I have been trying to figure out a good mm method the involves working back from a global maximum risk over a predefined period of time and then working it back to the lot size and the maximum risk per day per position. attached is the excel sheet i am working on please have a play.
Any input be it would be great, be it good, bad or ugly.
I have attached an MM system I am working on to look at it seems very busy and it is.
I am of the opinion that there is a difference between an mm system in and ea and mm for a manual system and that’s us.
Most of the mm systems I have seen and tried all have one thing in common only risk a maximum of X% of your balance per position
and set a stop X pips from open
But what if you are trading multiple pairs and multiple positions how does that affect what you have risked and your potential drawdown if it all goes bad.
This is why I have gone with setting a max drawdown percentage and then set the position size as a percentage of the Max DD figure.
The DD Figure is then divided between the number of pairs you have selected to trade to give you your maximum loss per pair from this depending on
account type you can see how many positions per pair you are able to open and where the stops will be.
I have also used a base target which is the target for your balance to hit once hit all calculations should be taken off that this.
So the difference between the two is protected profit and not risked and able to be withdrawn.
I have tried to create a system for an automated style of trading so it has to have a positive win percentage. Hence putting in a system accuracy
filter this should be calculated on a pair by pair basis in order to help filter out poor performing pairs.
Please have a look and let me know what you think be for i get it coded
I have been messing around with excel and created a basic spread sheet that works out how much you should risk per day based on you max DD of your balance and where your stop should be in relation to your lot size.
It's quite rough but have a look and let me know what you think.
Is there a calculator/EA available that will automatically adjust my lot size or tell me what my lot size should be if i dictate the %risk I'm willing to take. e.g my balance is $500, the price is x and my stop loss is y and I wish to risk 1% ...it calcultes my lot size?
Linear Mode
