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Risk can't exceed $200. How to get the proper quantity no matter the instrument?


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Risk can't exceed $200. How to get the proper quantity no matter the instrument?

  #1 (permalink)
 little leo 
Sydney
 
Experience: Advanced
Platform: NinjaTrader
Trading: Forex
Posts: 63 since Nov 2015
Thanks Given: 31
Thanks Received: 40

I'm trying to get this strategy to work across multiple instruments. Risk can never exceed $200.

I can't figure out how to link ticks to units for the Enterxxx methods but I have no idea how.


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  #3 (permalink)
 little leo 
Sydney
 
Experience: Advanced
Platform: NinjaTrader
Trading: Forex
Posts: 63 since Nov 2015
Thanks Given: 31
Thanks Received: 40


Okay so I have to multiply this value 0.2 by the lot size. However I'm trying to make something that would work with all instruments. Not necessarily risking $200 USD, but risking $200 of the base currency.

There's no variable in ninjatrader where I could get the lot size, so I guess this has to be hardcoded for every instrument?

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  #4 (permalink)
PSionic
Frankfurt am Main
 
Posts: 4 since Mar 2016
Thanks Given: 1
Thanks Received: 1

Hi I think I'm working on the same problem.

My objective is to have a similar if not equal amount of money at risk with every single trade (say 200$). Stop Loss and Take Profit are known before entering a trade.

I'm trading indices such as GER30, US30, JPN225, NAS100, HKG33, EUSTX50 and SPX500 which come in different currencies. The problem is that an equal range trading the HKG33_CFDHKD or the JPN225_CFDJPY yields less US$ per pip than when trading the GER30_CFDEUR.

As far as i'm aware of, the differences are a) the ranges itself (i.e. Entry - TP/SL) b) yield per pip and c) the exchange rate from the index currency (e.g. JPY) to the account currency (USD).

In order to have an equal constant amount at risk with each trade I'd like to dynamically adjust the quantity of CFDs traded.

My approach was to divide the amount at risk by the range traded.

E.G.:
Range = 10050 - 10000 = 50pip
Risk amount = 200 $
Yield per pip (FXCM) = 0.1

So I'd calculate the no of CFDs:

CFDs = (Risk / Range) / Yield per pip = (200/50) / 0.1 = 40


I'm now thinking that the missing parameter may be the exchange rate to be considered when trading indices. is there a means of using the applied "rate" in NT7 (as displayed in the executions tab)?

Or are there any other approaches to keeping the money at risk constant with each trade despite varying ranges traded?

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Last Updated on May 13, 2016


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