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RoundLow to the 1000 ($Risk$ / Entry- Stoploss) + 2 pip slippage)
My actual risk is 50$.. My stop loss is always the price opposite of the entry bar. Meaning, I risk the value of the range of my entry bar.
This will give you the | unit you could take for a given $risk
This unit is multiply by the entry price and compared to my maximum risk allowed. If to much, then the #units is reduce. I don't want to risk or bust my allowed margin
All is done via Excel. But easily done in any language
For those interested in position sizing quickly on the fly the following product for ninja looks interesting. Allows you to calculate the number of contracts to enter based on fixed fractional position sizing and then enter the position all with a couple …
For those interested in position sizing quickly on the fly the following product for ninja looks interesting. Allows you to calculate the number of contracts to enter based on fixed fractional position sizing and then enter the position all with a couple …
Read further down the thread and there is some excellent posts by @Fat Tails.
