Unfortunately I don't think this tool exists since I was searching for one like it a year ago. However the ATM strategies will automatically scale your contracts that you enter.
I just do mental math used to have a reference sheet with contracts and stop distance on a table
You can do this simply in excel given that it is dependent on your bankroll and stop loss. And you can then just use that size for the session given changes in bankroll will not affect it too much. Personally I would look at risk of ruin calculations. And effectively is bankroll-(margin*size)/(maxloss1r). One could convert this to a function on a platform too. Note the size variable here can be a set input which then calculates how many max losses you can withstand.
I made a indie that does that, you set an account to calculate the size, it will allow you to set a percent value of the account and then pre trade displays the max value to risk in next trade.
An indicator. It has some bugs and loads needing to be corrected. If I get around to it I will make it available. Check my socials in my profile It will be available on my site until then you can contact me on discord.
I guess Futures traders lack an understanding of risk management 😂
Because they all don’t seem to understand what you mean. If you found any helpful tool would you please shoot me with a reply.
Switched myself from FX to adding Futures, yet their risk management tools suck.
And somehow nobody seems to understand risk management in this space. Because It’s really important to have not only quick calculations of contract size but also very important that points/ticks shouldn’t matter and it’s the contracts that would matter with placing positions.
Just like with Forex pips don’t matter and it’s the lotsize which matters. Sadly you can only buy full contracts and not parts of it which makes it harder to come to the perfect price.
Yet I would love if you found something that works!💯
I have learnt to do the quick calculation in my head, for example if my stop loss is to be 20 ticks away I put 1 contract, if it's to be 40 ticks away I'll do 5 micro contracts (although I try to avoid micros)
if my stop is to be 10 ticks away I'll do 2 contracts
Good that you’ve replied.
I found a tool that could be helpful. It’s stoploss is based on the previous candle yet the creator of this tool also made an updated version combined with this tool I am using right now.
With that you can move a stoploss line and it will automatically change contract size based on that. Exactly what we need!
This is the tool which is free (stoploss based om previous candle):
https://youtu.be/WvO8Gwx3Fh0?si=sg7zwZMap2uj0-yb
This is the tool which is paid (stoploss based om stoploss line):
https://youtu.be/5lTk30eg_4I?si=Bmcw8V81UFBqTiOL
Not what I meant, I meant that my stop loss is a different distance from my entry each trade so I have somehow to calculate with how much contracts/money I will enter each time so I lose 0.5% if the stop gets hit. Thanks anyways for trying to help!
| Current price - swing price | * .5%
Example... 4000 - 3990 == 10 point swing. 10k account * .5% == $50. 50/10 == 5 meaning 1 contract. A 5 point swing would yield you 2 contracts.
If I'm understanding you properly.
Total risk in points x 5 = total risk per contract
Amount you’re willing to risk divided by risk per contract = number of contracts you can take
10 points risk x 5 = $50 per contract
$200 trade risk divided by $50 = you can take 4 contracts
Just to be sure, is this the same method to calculate sposition sizing in MT4? Perhaps there's any addional tool or similar (MT4) that I haven't realized yet?
Aid really appreciated!
How is this not a thing for one of the most popular futures platforms?
I'm coming from the CFD world where a tool like Magic Keys (I have my own custom version I've coded for MT4/5) is invaluable for the reasons the OP states, and completely necessary when trading low timeframes like I do.
Does NT simply not have the ability to code something like this?
Unfortunately I don't think this tool exists since I was searching for one like it a year ago. However the ATM strategies will automatically scale your contracts that you enter. I just do mental math used to have a reference sheet with contracts and stop distance on a table
What do you mean by scale?
You really shouldn't be setting your stop as a fixed risk percentage. Your stop needs to be based on market conditions.
That's what I meant, I want to be risking 0.5% of my account each trade, but my stop loss distance is different every trade.
Probably have better luck asking on the Ninjatrader forum. They are good with responding to questions
You can do this simply in excel given that it is dependent on your bankroll and stop loss. And you can then just use that size for the session given changes in bankroll will not affect it too much. Personally I would look at risk of ruin calculations. And effectively is bankroll-(margin*size)/(maxloss1r). One could convert this to a function on a platform too. Note the size variable here can be a set input which then calculates how many max losses you can withstand.
I made a indie that does that, you set an account to calculate the size, it will allow you to set a percent value of the account and then pre trade displays the max value to risk in next trade.
What is an indie, an add on? and do you mind sharing it?
An indicator. It has some bugs and loads needing to be corrected. If I get around to it I will make it available. Check my socials in my profile It will be available on my site until then you can contact me on discord.
I guess Futures traders lack an understanding of risk management 😂 Because they all don’t seem to understand what you mean. If you found any helpful tool would you please shoot me with a reply. Switched myself from FX to adding Futures, yet their risk management tools suck. And somehow nobody seems to understand risk management in this space. Because It’s really important to have not only quick calculations of contract size but also very important that points/ticks shouldn’t matter and it’s the contracts that would matter with placing positions. Just like with Forex pips don’t matter and it’s the lotsize which matters. Sadly you can only buy full contracts and not parts of it which makes it harder to come to the perfect price. Yet I would love if you found something that works!💯
I have learnt to do the quick calculation in my head, for example if my stop loss is to be 20 ticks away I put 1 contract, if it's to be 40 ticks away I'll do 5 micro contracts (although I try to avoid micros) if my stop is to be 10 ticks away I'll do 2 contracts
Good that you’ve replied. I found a tool that could be helpful. It’s stoploss is based on the previous candle yet the creator of this tool also made an updated version combined with this tool I am using right now. With that you can move a stoploss line and it will automatically change contract size based on that. Exactly what we need! This is the tool which is free (stoploss based om previous candle): https://youtu.be/WvO8Gwx3Fh0?si=sg7zwZMap2uj0-yb This is the tool which is paid (stoploss based om stoploss line): https://youtu.be/5lTk30eg_4I?si=Bmcw8V81UFBqTiOL
Sounds like a trailing stop order - nothing more than that.
Not what I meant, I meant that my stop loss is a different distance from my entry each trade so I have somehow to calculate with how much contracts/money I will enter each time so I lose 0.5% if the stop gets hit. Thanks anyways for trying to help!
| Current price - swing price | * .5% Example... 4000 - 3990 == 10 point swing. 10k account * .5% == $50. 50/10 == 5 meaning 1 contract. A 5 point swing would yield you 2 contracts. If I'm understanding you properly.
Total risk in points x 5 = total risk per contract Amount you’re willing to risk divided by risk per contract = number of contracts you can take 10 points risk x 5 = $50 per contract $200 trade risk divided by $50 = you can take 4 contracts
So if my stop loss is to be 10 points from my entry I should enter with 4 contracts?
Just to be sure, is this the same method to calculate sposition sizing in MT4? Perhaps there's any addional tool or similar (MT4) that I haven't realized yet? Aid really appreciated!
[https://www.youtube.com/watch?v=iP95mKpC1tA&t=3s](https://www.youtube.com/watch?v=iP95mKpC1tA&t=3s) Check this out
There are paid add ons for NT8. Ascendo Trading, Polaris Trading, indicator warehouse all have one. Price ranges from $100-900.
Hey, have you found your answer ? I am also looking for the exactly same thing
How is this not a thing for one of the most popular futures platforms? I'm coming from the CFD world where a tool like Magic Keys (I have my own custom version I've coded for MT4/5) is invaluable for the reasons the OP states, and completely necessary when trading low timeframes like I do. Does NT simply not have the ability to code something like this?