ArgoLotCalculator is a very intuitive and easy-to-handle tool that helps you to do the money management in your trading.
There are two (by far) the most widely used money management schemes in trading. In the first scheme, all trades are opened with the same volume. In this case, the trader needs to know which profit (loss) will occur if the takeprofit (stoploss) level of the trade is hit. We call this the “Fixed Lot” scheme. In the second scheme (“Fixed Fraction”), the trader prescribes the risk that should be taken in the trade (that is, the loss in the case of hitting stoploss) and calculates the volume of the trade accordingly. Still, the trader needs to know what the profit of this trade will be. ArgoLotCalculator is designed to provide you with all necessary information for these two money management schemes.
ArgoLotCalculator has a button, an information window, and three horizontal lines.
The blue line represents the open price of your (would-be) order, the orange line is the take-profit, the pink line is the stop-loss. You can pick up the lines by your mouse and drag them to any position).
When the money management scheme is Fixed Fraction (LotMode = FixedFraction in the settings), the information window of ArgoLotCalculator shows you the required lot size of your order calculated for the stop-loss you selected with the lines on the screen. More specifically, in information window you see: the money management scheme (Fixed Fraction), the desired risk set up in the settings (1% of the balance per trade), the total balance of your account (you can set up a “custom” balance in the settings), the calculated value of the lot size, the take-profit and the stop-loss as set up by the lines, in points, in units of the deposit currency, and in % of the balance. Move the lines and observe how the values are changing.
The second money management scheme is switched on by setting LotMode = FixedLot. The information window now looks differently: