Risk Management
Last updated
Was this helpful?
Last updated
Was this helpful?
The Vanquisher X algorithm is very unique because it is one of the few algorithms available that provides traders with every risk management tools they need to trade the market safely and stay risk managed. We added this in because there are many traders out there using the wrong lot sizes and damaging their account causing them to become emotional. With the risk management group, you will get access to the following features:
There are 4 options when it comes to plotting the trailing stop loss feature, we can enable or disable all the plots for it with the first toggle box "Plot Trailing Stop Loss?", and we can show or hide the ATR lines that comes with it, allowing you to only see the price label for the appropriate stop loss.
The trailing stop ATR input field will determine the end result of the the average true range identified by the indicator and this will impact the pips distance from the current price and the ATR trailing stop. Decreasing this will make the trailing stop closer to the current price whereas increasing this will make the trailing stop further from the current price.
The trailing stop multiplier field will determine the final outcome of the trailing stop loss massively as it times the average true range value by the multiplier to get a final result that leads into an accurate pip value. Decreasing this value will make the trailing stop closer to the price and increasing this value will make the trailing stop further from the price.
This is the second feature of the risk management group and it is by far one of the most helpful features to have integrated into TradingView's platform too. It works by calculating the lot size too use by analysing the account size, the account's currency and the user's goal stop loss size. The calculator itself is as accurate as the myfxbook's position size calculator too!
How To Use The Position Size Calculator?
Enter your account size into the account size input field.
Enter your account's currency into the currency field and make sure this is accurate such as "GBP", "USD", "ZAR", "CAD", "CHF", "JPY", "EUR", "AUD", "NZD", otherwise it will break the indicator's referencing code.
Enter in your risk percentage as this will act as a multiplier for your lot size. Please be sensible and use less than 1.5% risk as you want to stay trading longer not blowing accounts faster.
Enter in your stop loss value in pips so the calculator can calculate what lot size to use.
(optional) You may enter a take profit input to get the risk reward information returned to you too.
Another feature we added in was the ability to have your inputted stop loss and take profit pips converted into a plot that would draw and update on every signal so that you know the exact value to set your stop loss and take profit point too on every trade you take. To enable this you will need to enable the toggle box at the bottom of the risk management group called show TP and SL.
