It would be useful to see a position sizing block with the following properties:

-Percentage to risk
-Stoploss in pips

And the block would calculate the number of units to trade to setup the risk in percent. You would want the block to check the account currency - and the currency pair the trade is being executed on.

If you need me to clarify , let me know.

DoCZero

Hello Doc0

By

You mean a new component block? What exactly would be the inputs and outputs of this new block and how would you use it?

Overall, it sounds a good idea (especially the Percentage to risk), but some clarifications are needed.

nb: like the one already existing in the Pending order and Open at market blocks?

Hello Para,

Thanks for the quick reply - basically it is for fixed fractional position sizing. So every trade on my account is to a fixed percentage risk calculated every trade.

Currently to do this I am using:



Unfortunately - that assumes the users account is in USD and it only works when I trade a currency with USD as the quote currency (i.e EURUSD). When you account is in a different currency, or trading a different pair - the maths changes.

The Block needs to reference the following:

-Account Currency
-Account Balance
-Percentage Risk
-Stoploss in pips
-Currency pair being traded

The standard formula is:

In addition, I think it's better to have a choice (single selection) of using Equity or Balance to calculate lots, for people who wish to have more than 1 open position.

Hey doczero,

Good day, not sure if you have addressed this block for your live trading, I have written a function by researching through JForex API. Paste here FYI.

Hopefully VJF team will realize the block soon.

//--------------------------------------------------
// Calculate lot size
//--------------------------------------------------
private double calculateLotSize() throws JFException {

double lotSize = 0.0;
double equity = context.getAccount().getEquity();
double valuePerPip = utils.convertPipToCurrency(myInstrument, context.getAccount().getCurrency());

lotSize = equity * RiskLevel / (valuePerPip * SLPips) * Math.pow(10, -6); //calulate lots in millions
//math round
lotSize = Math.round(lotSize * 1000) / 1000.0;
return lotSize;
}

one statement to be added to onStart function:

this.utils = context.getUtils();

Hello Jforex Team,

So any progress on this block? Or is it off the design list for now?


P.S - I'll be around a bit more now - just relocated to asia , and new work commitments have been crazy (but im back into building / designing and testing trading systems =) )

Hello Doc.

Welcome back.
Unfortunately you are right, it is off the list because of low demand for such feature.
Not many traders understand meaning of th Risk. And thouse who know can calculte it for themselves.

Hi Sirs,

I support the request.
It would be a very useful thing.

tanks

UP

Hi Sirs,

I support too the request.
It would be a very very useful thing !

Else maybe the possibility to call java utils like "utils.convertPipToCurrency"...

Thanks in advance

Hey guys!

I know that this is a good feature and I will push things forward in that direction but please also understand that currently the highest priority is to make VJF more reliable and stable in order to leave the beta-status to deploy it for LIVE-environment.
Otherwise we might would implement blocks based on wrong or inadequate data/code.

Thank you for your understanding!

Cheers!