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This utility is specifically designed for No Nonsense Forex traders.
What it does:-
- Let traders add or remove symbols to trade
- Editable boxes in panel for updating inputs
- Automatically applies money management to the trades
- Places all orders with a single click
How it calculates:-
- Two trades are opened per symbol
- By default max risk per trade is 1%
- By default total risk is 6% which can changed in inputs tab(recommended to keep it 6 or below)
- On addition of symbols the total risk will be divided equally among all assets. For example if total added symbols are 6 then risk will be 1% per symbol and 0.5% per trade
- Risk can be by account balance or equity which can be selected in inputs tab also
- Volatility metric for lot calculation is ATR(Average True Range)
- Editable inputs are in format(Symbol,Stop loss multiplier,Take profit multiplier,Order type). The first input is a constant and doesn’t need to be changed
What it doesn’t do:-
The utility doesn’t check if sessions are opened for all added symbols so the user needs be aware of the session status of the symbol added. Roll over times need to taken into consideration also.
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