Money management is an important aspect of trading that many traders often miss. It is quite possible that even with a winning strategy, poor money management can lead to huge losses. The Verdure Lot Calculator utility is designed to minimize risks when trading on the Forex market. Verdure Forex Calculators contains a lot calculator (trade or contract size) as an indicator in the MT4 platform.
A lot has to do with the combination of units in the trade. In Forex, the standard lot is equal to 100,000 units of the quoted currency of the traded forex instrument. The lot Calculator helps you determine the size of the trade or contract of any position you want to open in order to avoid too much risk. It is possible to use either a percentage of the balance or equity of your account or a lot in monetary value. For example, you can use either 2% of the account balance or equity, or, say, risk $50 per trade. The calculator will calculate the lot size regardless of which of these methods you use.
- Account Currency – non-editable pod, contains the currency of the account.
- Currency Pair-the symbol on which the indicator is attached to the chart.
- StopLoss (Point) – the value of the Stop Loss in points (no need to recalculate on 3-and 5-digit quotes).
- Risk Type – in percent or monetary terms.
- Risk (Percentage) – the percentage value if the risk type is ‘Percent’.
- Risk (Money) – the amount in monetary terms, if the risk type is set to ‘Money’.
- Balance/Equity – the account balance or funds in the account are used to calculate the risk.
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- Highly accurate results, as your broker’s data is used.
- Smooth, clean and intuitive interface.
- Advanced error handling and reporting system.
- As with any panel, it is barely visible on the chart when collapsed, giving you plenty of room to do your own analysis.
- Significantly helps with money management.