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#11
6th April 2008, 07:50 AM
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Re: MM and Position Size Calculator
Thank you Ashish,
I found you only get what you pay for. It's free for a reason, there is always a catch. I have tried using both free calculators and some overpriced ones. I found most either too complicated or do not use correct Money Risk Management principles. What's the point of knowing how much risk you are exposed to and not be able to prevent getting into trouble in the first place? Most programs don't take brokerage into account when calculating stops and trade sizing. Others don't use the Trading Capital value correctly. I never trade more than 20% of my TC for any trade. In other words if I have $25K I would never trade more than $5K in one trade but also take brokerage both ways into account. Correct TC is if you have $10K in available cash you add the value of all open trades if all stops are hit. My total portfolio may be up $2000 but if all stops are hit may only be up $1700. Again, the program from www.paconsulting.net.au does all this correctly and it's free  14 day trial will, if not anything else, teach you correct money risk management principles. It's also a trade manager. You need Metastock data for it to integrate with but I have it for my Metastock charting package but this data is used by many other charting packages also and can be got free for testing purposes. The program is great for back testing and the reason I promote the program is because for many years I thought I had it under control by using several excel spreadsheets for trade sizing, stop loss, trade journal, trade and performance reporting, trailing stops but found there was many things I did not take into account and this program does it all and all in one program. It was developed by a trader, educator and programmer, a rare combination. Please trial it at http://www.paconsulting.net.au/Share...-risk-manager/ I found it since my last post. It has helped me trade so much better and saves me so much time which I now spend with a nice wine.Emma  
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