I have put a bit of work into making a Money Management Calculator and Log. My aim was to earn a CalcuLog. A dwell log you use for Money Management. I think I have succeeded in making this log.
I have taken several ideas from different logs I have observed, but 95% of the log is my original coding. I am looking to check it.
How to use:
Fist item, this was constructed with the assumption the individual working with this log will have a MT4 platform that could have DDE enabled with. This log can be used without it but it's tedious to keep the current values upgraded by hand.
The next assumption is that your trading style only moves your stops ahead, and never backward. Thus in the event that you move your stop to Break Even then you will not ever be able to transfer it to -1 to 1 and above.
The next assumption is that you're assuming every transaction can hit it's stop. This means, until you move your stop to BE you are at risk on such trade. I think of it , cash below the stop is yours (loss or gain) and cash between the stop and the true value is float. The float currency can not be counted towards nor against your Money Management. Thus this log supposes upon entering a transaction the worst case situation (They all hit there ceases ) for the transactions entered above it to get MM purposes.
Given this fact, I have given a field from the log called Adj. Stop (Adjusted Stop). In the Cease field, your stop value may alter here, not as your transactions progress. There's also a Swap field. This field will also be adjusted daily as you eliminate or will gain swap every day a transaction is open. Both these areas are clearly marked. If you're using DDE, this log is very accurate, but there is still rounding errors. Thus any inconsistencies you are able to add or subtract that amount from the exchange field at the trade's end.
You go to the data tab. In here you will find personally. First is either Manual or MetaTrader for updates. If manual you will have to update the areas in yellow on a normal basis, I recommend MetaTrader. In the event you decide on MetaTrader, please insure MT4 (or equal IBFX Trader, MIB, etc) has DDE enabled and open. If DDE is not enabled you restart MT4 and will enable it. Next is IBFX Mini (Yes or No). I do not know about other brokers, but IBFX utilizes another command to recover data from the DDE on a mini account. The piece that is finial is the account currency. I made four options (USD, EUR, GBP and CHF), I am sorry if I did not put in your currency, but it's a lot of effort to add more and it most likely won't get into the calculator before next month if you ask, but I will add it. This is important since it computes the pip value for that currency as well as the genuine position size in the regional currency.
The calculator tab is pretty self explanatory (Lots of tool tips). You will most likely not use it if you're using the log as of the features of this calculator are constructed into the log.
In the Log tab (July 2007 etc.):
First of All. This log was built for the use of owning a new log every month. This means at the start of the month you rename it to anything month/week you desire and then will earn a copy of this Blank Log.
All the top input values are in maroon.
Account: You choose the kind of account you're using, as it is important for deciding exactly what pip values are not worth.
Currency: This does is provide your correct emblem for the monetary value you selected.
Balance: This is the precise equilibrium before your first transaction is open in the log. In case you've got open transactions, wait till they close before beginning a new log. If necessary, There's space for 200 trades each log, this should go well more than 1 month.
A Trade R:R: This is a value you set for just how much actual Ryou made on a commerce for you to think about it an A transaction. This is not a judgement that is pretrade.
B Trade R:R: Same as above
C Trade R:R: Same as above
Max Risk Per Trade: Here is actually the max Risk you need to assign to any trade. In the event that you exceed it, you will be warned by this value.
Max Leverage Per Trade: Here is actually the max Leverage you need to assign to any trade. In the event that you exceed it, you will be warned by this value.
The previous item you may notice (And this is not a changeable number, display only) is the Current Account Risk. This tells you, provided your current corrected stops what overall amount of your account is currently at risk. I use this often as my MM says not to have 5 percent of my account in the risk at any given time.
Creating your Entries:
I have made this as easy as I possibly could. Enter values from left to right as many formulas are called based on changes. Such as the position size will be locked in along with the pip value will lock when the transaction is closed. To unlock those values, you have to make the commerce neither open nor shut (you can do this simply by eliminating your entry number). A warning on this though, as the market is fluid, unlocking this value will make it to recalculate and this can cause your numbers to be incorrect if the market has moved 300 pips or longer.
First, Choose a pair. This will automatically place the pip value for the pair.
Next, put the number of lots you wish to make. Upon doing this, it will compute your true pip value, your position dimensions, your adjusted equilibrium (Accounts for open trades), and tells you the leverage you will be making for this trade. At this time reduce the lot size till you're at a leverage that's acceptable.
Next, use the pull down to pick the place you're going to take (Long/Short).This initiates the calculations for several areas.
Next, put the value at witch you're entering the trade. You will notice that the trade status is now open and it will lock in your position size as well as trigger your adjusted values .
On the open of your trade, your Adj Stop along with your Cease values should be the exact same. As you proceed your stop you would simply update the adj stop. You will see it effects youe corrected P/L and Balance into the far right.
T/P does nothing at this time but be there for your record keeping
Exit is the transaction stopped. It will close the transaction upon placing a value . You will notice values that are adjusted that are youe become and close values.
That's about it. I have made it as self explanatory as possible, although I know I am missing something. It's late and I'll leave this to this.
If you have any queries please feel free to ask. I only ask that you ask question on this thread and not. More then probably someone else does to In case you've got a question and there's absolutely no reason not to kill many birds with one stone.
Thank you, and please report any calculation errors or bugs to me so I will fix them in a timely manner.
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https://www.forexsoutheast.asia/atta...8737842517.zip