Risk Manager
DON’T USE MAXIMUM LEVERAGE!
YOU WILL WIPE OUT YOUR ACCOUNT IF YOU ARE NOT CAREFUL.
THIS WILL HELP YOU NOT WIPE OUT ALL THE TIME.
FX Risk Manager
The FX Risk Manager is for Forex traders who want to figure out how big of a position to take either in dollars or in lot size so as to not get stopped-out too early in the middle of a trade before it has breached the support (low of the day), or the resistance (high of the day).
Making money in Forex is about using extremely high leverage to make a lot of money in a short period of time like no other market in the world. However, the downside is that it can wipe you out quickly if you do not use leverage wisely.
If you just pick your trade size arbitrarly without planning then you are setting yourself up to get whacked by your broker every single time. If you have traded for a while you will often see spikes in the market that are used to knock out traders who are overleveraged.
This will help you figure out trade size for many currency pairs. If you don’t see one that you trade we can customize it for you.
Here is what it will help you figure out:
- Maxium Trade Size for long or short positions.
- Swap Rates- Whether or not you paying or receiving interest on open open positions at 5 PM EST. This will help you know which currency you should be holding at 5 PM daily.
- You can decide to use the maximum recommended trade size or a percentage of that amount.
- It can also show you what you should be buying or selling based on the current market trend.
Compounding & Withdrawal Projections
“Make It Move It!
The Compound tab allows you to set profit goals and make projections to figure out how much time it takes to reach your goals. You will see how small consistent pips can grow your account. Be realistic as to what you can make.
You can decide how many pips you are capable of making daily and how much time it will take to reach your desired goals. You can figure out how many pips to target based on the history of the currency you are trading. The “Market Time Master” can help you figure out when you are most likely able to capture the pips you are trying to get. You will be able to time your entry and exit down to the hour so you can better manage your trading days. Knowing at what time to make a trade is better than sitting there all day watching your computer screen all day.
You can set a percentage profit to withdraw when you make profits. It is preset at 30% profit withdrawal or drawdown %. If you do not take it the market will so you might as well withdraw profits all the time.
You will see a running “Total Withdrawn” goal and running “Balance After Trade”. You can see how you can grow your money with small consistent victories.
Super Trade Compounding
“I have used this spreadsheet to make way over 100% in one shot!”
For advanced traders who understand compounding, you can use the individual currency tabs where you can figure out how to compound your trades starting with one trade that grows larger and larger using the profits from the first previous positions to make additional trades. It helps you plan your entry orders that you can place ahead of a market move. You will see a separate tab for many currency pairs:
1. AUDUSD
2. NZDUSD
3. EURUSD
4. EURAUD
5. EURCAD
6. EURGBP
7. EURNOK
8. EURJPY
9. EURTRY
10. GBPUSD
11. GBPAUD
12. GBPCAD
13. GBPCHF
14. GBPJPY
15. USDCAD
16. USDCHF
17. USDJPY
18. USDNOK
19. USDZAR
20. USDMXN
21. USDSEK
22. USDTRY
The easiest way to figure out which one to pick is to look at the economic calendar for the week to see which currency has some news that gives it the kind of move you need to hold on to a trade that can go many pips in one shot. Look for the high impact news which will move the currencies more than other types of news.
