How many contracts should I enter the market with? Where should my stop be? What are some potential targets from my entry? The new Position Size add-on for NinjaTrader answers all these questions and more. By using the Position Sizer you will never over-extend yourself on a trade again. You will always be in control of your risk. To position size Forex and futures and stocks can be difficult – this is not. Simply click the mouse twice – once at your stop and once at your entry and all of this information is available in a split second: Stop line with price, entry line with price, number of contracts or lots to enter the market (standard, mini & micro lots and even single units – Oanda or Arrowfield Trading style), total ticks / pips at risk, any number and any multiple of ATR targets from your entry or from the most recent swing, any number of Standard Deviations from your entry or from the most recent swing and any number of Risk to Reward (R:R) plots out from your trade entry. All with easy click on and off buttons on the tool bar. Here is a short video highlighting the add-on Position Sizer Video Link and if you like it and think it might benefit your trading you can purchase it for a discount here Discounted Position Sizer for the month of December.
Control your risk! Don’t let this happen to you:
There is a nice blog post here BabyPips Position Size.