Money Risk and Trade Management Software

Discussion in 'Risk Management' started by emmah, Apr 5, 2008.

  1. emmah


    Hi everyone,
    I use Metastock for entry and timing and Money Risk management to get me out. My max risk is never more than 2% of TC less brokerage and this is how I set my initial stop. Once I have hit breakeven I then use a trailing stop, a combination of % and ATR(8). My trade sizing is based on remaining TC + value of all open positions if their stops are hit. Example: If XYZ last close was $1 and I have $25K as TC and brokerage is $25 each way and my max risk is 2% I would buy max 20% of TC less brokerage both ways so 4950 shares with max risk being $500 less $50 and set stop accordingly to only risk $450, am I on the right track? In Australia I got hold of a program that does all this for me, integrates with my metastock data, keeps a journal on each trade and reports on performance and after researching Van Tharp also calculates my trade expectancy. It's called JBL Risk Manager, has anyone used it and tried the short selling option? I got it from an Australian website and I think it's great where there is a trial. Would be interested if the rules it uses are correct?