[REQ] Position sizer indicator for TOS from Easycators

[⭐ smartguy]

From sales page- "The ThinkOrSwim Position Sizer is a VERY important ThinkScript I made that allows me to instantly know what my entry, stop, target, and position size should be in order to maintain an equal risk on every trade I take." Here is link to sales page

https://easycators.com/thinkscript/thinkorswim-position-sizer/

 

This appears to be the "swiss army knife" indicator to aid in risk management. Thanks in advance to to wonderful person who turns this one up.

[⭐ gadfly]

Waste of chart space....

[⭐ smartguy]

Sorry you feel that way. Controlling risk is always a struggle for me, I know one indicator is not the be all and end all, bit I do think it looks interesting so I am still on the look out for this if anyone comes across it.

[ootl10]

Use low period number and two indicator

First Envelope or Keltner with low setting on lower band, hide upper

Second Envelope or Keltner with high setting on higher band, hide lower

 

You can have a bigger stop if you win more so you can calculate expectancy

Start with LOW RISK ! Increase only after

 

aSorry you feel that way. Controlling risk is always a struggle for me, I know one indicator is not the be all and end all, bit I do think it looks interesting so I am still on the look out for this if anyone comes across it.

 

Good luck to all

Edited February 3, 2021 by ootl10

[⭐ gadfly]

Sorry for being flippant.... My point was that analyzing and understanding the risk/reward profile of a trade set-up is a core trading skill and relying on a crutch for that is likely to hold you back, especially if/when you graduate to analyzing a trade portfolio, which will include various types of trades with different capital management goals.

 

But I could be wrong, it may be a useful learning tool if you trade stocks or futures, of no use to an options trader though.

[hamir]

Sorry you feel that way. Controlling risk is always a struggle for me, I know one indicator is not the be all and end all, bit I do think it looks interesting so I am still on the look out for this if anyone comes across it.

 

Hi did you ever find the Position sizer indicator for TOS that you were looking for?

I would like to try also if anyone has it to share.

Thanks in advance

 

 

[⭐ smartguy]

Sorry, never found so far.