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Risk Management - Alveo

 
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kiltedfxtrader

Risk Management - Alveo

One of things I like in MT4 is the autochartist risk calculator as I trade quite a bit on the daily time frame so when I enter a trade I like to know based on my entry position, where my stop loss is and based on my account balance what my lot size should be, based on the trading pair and also my risk % variable (typically 1 or 2%).

So Question 1: How do I do this in Alveo as it's a fund and I feel responsible not only for my own trading but that of my contribution to the fund. I have made mistakes on this before until I had this autochartist calculator and don't want to go there again as simple mistakes like this in my view is not acceptable especially when all the data is there

So Question 2: Once you have placed a trade and want to evaluate (see) what your risk is how do you do this e.g. on MT4 you just hover over the stop loss line and see the risk in terms of dollars at risk if stop loss hit

I'm beginning to get better knowing the platform but not having this risk calculator right there on the platform when opening a new order scares me a bit as professional trading is all about managing and protecting capital and I want to be geared for success and have a good rig before being funded :-)

Any assistance is much appreciated...

Fri, 02/08/2019 - 5:45am
 
getitvault

Salutations kiltedfxtrader,

I feel you on managing your your account while working on the Alveo platform.

Here is a tool that I recently found and am currently using to precisely take my positions and manage my account like a surgeon with a scapulae. The first link is to the tool and the second link is instructions on how to use the tool.

https://www.myfxbook.com/forex-calculators/position-size

https://youtu.be/9N-5gFRVREU

I hope this helps...

Regards

 
scottpatton

I use an app on my iPhone and I believe it's available for Android as well. It's called, "FX Calculators App".

The app includes the following calculators: required margin, pip value, position size, stop loss/take profit, pivot points and fibonacci levels.

 
coolpips1r

Kilted,

One click trading has a %R box, just input your risk percentage desired, position size and stop loss and it will tell you how many trades you can take at that size and SL level. you can then just move up and down the lot size with the +/- keys until it says 1 to know max lot size at that % risk. it's not the least complicated thing ever, nor the most haha. It may be easier to use a calculator as suggested.

 
scottpatton

Very cool! thanks coolpip. I have searched on here but couldn't find anything how to use that %R on the one click in Alveo.

 
hekroth75

thanks

 
jdandje

is Apiary going to ever build default management tools that will make risk and trade management for fluid and customizable.

 
Rookie

I doubt it but if you want you to risk adjusted lower than the Apiary rules email support, it can be done. I have my old silver account set to 1/2 the risk management rules.

 
CirrusSageRL

One key ingredient Apiaryfund claims is that ultimately they will determine how much you lose on any give day or trade. As long as your intended risk parameters fit inside that, you should be able to customize anything else. You can write C# scripts to do that maybe, but generally I think apiaryfund will never make any more user feature changes to the current platform. From what I've read online about Alveo it seems the trend would be to strip Alveo of more features than enhance it with more... in order to extract more creativity from the traders: maximize trader efficiency, minimize platform functionality. I'm not saying it's Alveo, just hypothetically speaking, think about it for a second. If your strategy can still profit after running it through the worst possible platform, it must be a pretty good damn strategy, right?
And we all know another key ingredient for this fund is strategy diversification.

I'm not mocking, I am trying to point out strengths! So, please I hope nobody gets the wrong idea here.