Your very own code snippet library
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How about this one to help up the total in your snippet library GraHal? I’ll let you put it in there if you feel it is worthy.
It is a bit of money management code that I use on almost all my strategies.
You set the start capital and minimum bet size that you wish to start with (usually the minimum bet size for whatever instrument you are trading as a low risk starting point)
You have three options by setting the variable ‘MoneyManagement’ to either 0, 1 or 2.
0 (Default) = Level position size at minimum bet size.
1 = Position size is maintained at whatever your minimum bet size is of your starting capital as a percentage. For example 1/10000 = 0.01%. As equity increases to the point where 0.01% of equity is greater than the minimum bet size then the position size will increase. If a loser is then hit the position size will decrease as equity does. This helps protect your equity at the cost of overall profit.
2 = Same as 1 but position size never decreases. Better for profit but less equity protection.
If your strategy reverses position direction mid candle then this code may not work for you as position size adjustments are only made at the close of a candle so no floating equity is included.
Obviously use ‘PositionSize’ as your BUY/SELLSHORT position variable.
There is rounding to two decimal places to ensure that it works on IG.
1234567891011121314151617181920212223242526//VariablesMoneyManagement = 0Capital = 10000MinBetSize = 1Equity = Capital + StrategyProfit//Increasing and decreasing position sizeIF MoneyManagement = 1 THENPositionSize = Max(MinBetSize, Equity * (MinBetSize/Capital))PositionSize = Round(PositionSize*100)PositionSize = PositionSize/100ENDIF//Increasing only position sizeIF MoneyManagement = 2 THENPositionSize = Max(LastSize, Equity * (MinBetSize/Capital))PositionSize = Round(PositionSize*100)PositionSize = PositionSize/100LastSize = PositionSizeENDIF//Level position sizeIF MoneyManagement <> 1 and MoneyManagement <> 2 THENPositionSize = MinBetSizeENDIFI also have this one. It is similar to the above money management but also has a risk multiplier that can be turned on or off. If equity is above the start capital then it increases position size. The more in profit the greater the increases.
As the warning says – use wisely it can easily blow up your account!
Please add it if you wish GraHal. My work here is done…..
12345678910111213141516171819202122232425262728293031323334//High RiskLevel number = Slower increase of risk.//Lower RiskLevel number = Faster increaase of risk//Use wisely or you will blow up your account!MoneyManagement = 0 //1, 2 or 3RiskManagement = 1 //0 or 1Capital = 10000MinBetSize = 1RiskLevel = 20Equity = Capital + StrategyProfitIF MoneyManagement = 1 THENPositionSize = Max(MinBetSize, Equity * (MinBetSize/Capital))ENDIFIF MoneyManagement = 2 THENPositionSize = Max(LastSize, Equity * (MinBetSize/Capital))LastSize = PositionSizeENDIFIF MoneyManagement <> 1 and MoneyManagement <> 2 THENPositionSize = MinBetSizeENDIFIF RiskManagement THENIF Equity > Capital THENRiskMultiple = ((Equity/Capital) / RiskLevel)PositionSize = PositionSize * (1 + RiskMultiple)ENDIFENDIFPositionSize = Round(PositionSize*100)PositionSize = PositionSize/100
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