Hi,
I believed I could help some people here by posting a spreadsheet I have put together for myself that assists me in my trading choices. It's a little rough and ready but it is good for me. I took my inspiration from Mark Ad excellent spreadsheet for trading Beau Diamonds 5 min Currency Market but I have honed it to provide the information I need to make my trading choices. Another spreadsheet I used the outcomes from to model my spreadsheet would be your fx risk calculator at http://www.eurusd.com that I find invaluable for giving definitive answers to risk, leverage etc..
To help you through the spreadsheet, you put at the lot dimensions, the amount of money in the account along with the conventional percentage that you would like to risk per trade.
Then you place the management (buy or sell), entry price, stop loss and exit price.
The spreadsheet then calculates the risk in factors, % risk / trade (each currency could be customised by changing the formula e.g. half risk on eurusd usdchf), the risk capital on each transaction, the number of lots in the specified entry price, the number of lots should you entered in the current price (useful for ching those missed movements, or if the price suddenly moves in your favor and you have the option to risk more lots on the transaction for the identical risk capital).
Once the transaction has executed, you enter the number of lots you entered the transaction at and also the spreadsheet calcuates the current stoploss points, stoploss profit/loss and the current profit/loss based on the current price.
If the transaction moves in your direction, you are able to update the stoploss price along with also the stoploss points along with stoploss profit/loss will update.
The spreadsheet also computes (for all of the currencies) the profit/loss if the stops are hit, the balance in the event the stoplosses are hit, the current profit/loss based on the current prices. In addition, it computes the value of the busy trades as well as the leverage
employed in the busy trades.
The spreadsheet assumes the account relies in US$ and has rows for eurusd, gbpusd, usdchf, usdjpy, usdcad, audusd, gbpjpy, eurjpy, eurgbp and nzdusd. They are all the ones that I ever had a need to work out.
The spreadsheet includes a button called Get FX Prices which uses a macro to access yahoo to get 15 min delayed fx prices.
You can type at the current price for yourself for better accuracy.
I owe FT for the next idea on cash management.
For those people who are more risk adverse than normal it is likely to trade say as a maximum 1 percent of funds at 10000 or more and more proportionally reduce it to 0.5% if your capital falls down to 7500 or below. This cash management has helped me a lot! It requires after a number of this Market Wizard egies in which they reduce their trade size sometimes 10 or even 100 fold when they're on a losing streak and then gradually increase their transaction size since they begin to win .
If you would like to keep it easy and have it as a constant portion of your funds then place both percentages to the identical value.
Just a notice, the risk/trade is exercised based upon the stoploss balance.
And the standard disclaimer about use at your own risk
allow me to know if you find anything wrong with this, and let me know if you want it!
Best regards
Alan
https://www.forexforum.co.za/attachm...1738478399.zip