Thursday, 6 December 2012


Risk and Reward Forex Calculator


The risk and reward calculator will help you to calculate the position's best targets and their respective reward-to-risk ratios based on the Fibonacci retracements from the local peak and bottom. It's a powerful tool to determine the potential risks before entering any positions.

Bullish or Bearish?

Bullish and bearish wave in risk and reward calculation
The price needs to be inside the wave for you to use this calculator properly. Here are the two variants of the wave you can work with — bullish and bearish.
The current price is C; A is the beginning of the wave (bottom for bullish and peak for bearish); B is the local maximum (for bullish wave) or minimum (for bearish wave).
Fibonacci retracements (0.382 and 0.618) are calculated to form the entry, target and stop-loss levels. It's better to enter positions only if the current price (C) is close to 0.382 Fibonacci level.
Price Arequired
Price Brequired
Price Crequired

Results

0.382 Retracement
0.618 Retracement
1st Target
2nd Target
3rd Target
RiskRewardRatio
1st Target:
2nd Target
3rd Target
Attention! It's not recommended to enter a trade if your reward-to-risk ratio is less than 2.
Our position size calculator may also come to use for you as it allows you to calculate the optimal position size depending on the risk you tolerate, the stop-loss level, and the total size of your account.
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Position Size Calculator


Position size calculator — free Forex tool that lets you to calculate the size of the position in units and lots to accurately manage your risks. It works with all major currency pairs and crosses. It requires the minimum input values, but allows you to tune it finely to your specific needs. All you need to do is to fill the form below and press the "Calculate" button:
Account currencyrequired
Account sizerequired
Risk Ratio, %
required 
Stop-Loss, standard pipsrequired
Currency pairrequired

Results

Money, USD
Units
Lots
Calculating the amount you can risk is very important if you carefully follow money management strategy. I advise using it every time you manually open a new Forex position. It will take a minute of your time, but it will also save you from losing money you don't want to lose. Position size calculation is also a first step to the organized Forex trading, which in its turn is definite property of the professional Forex trader.
Importance of the thorough position size calculation is stressed out in many influent Forex books. Sizing a position should be done in line with setting the right stop-loss and take-profit levels. And it's hard to lose all the account's money if you manage risk and position size every time you enter the Forex market.
This calculator is also available as a downloadable MetaTrader indicator. The advantages of MetaTrader version:
  • Very fast calculation once set up.
  • Easy to use with mouse-drag interface.
  • Position size calculated in the same software that is used for trading.
  • Automatic reference pair bid/ask prices retrieval.
  • Will work for you even when you are offline.
  • Calculate position size even if EarnForex.com is temporarily offline.
The disadvantages of MetaTrader version:
  • Have to install MetaTrader (4 or 5).
  • Have to download and install the indicator.
  • Isn't as intuitive as this calculator's form.
  • Have to add more currency pairs to Market Watch window of MetaTrader.
  • Calculation for non-standard trading instruments can be buggy.
You might also find our pip value calculator useful. It can help you to find the value of the pip for different currency pairs and for the nonstandard account currencies.
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Pip Value Calculator

← Back to Forex Tools
Use this pip value calculator if you want to know a price of a single pip for any Forex traded currency. Use this free Forex tool to calculate and plan your orders when dealing with many or exotic currency pairs. All you need to do is to fill the form below and press the "Calculate" button:
Account Currencyrequired
Currency pairrequired
Position size, unitsrequired

Results

 
Although knowing the actual value of a pip in the U.S. dollars is trivial for such currency pairs as EUR/USD, GBP/USD, it is quite hard to tell the pip value for these currency pairs if your account is denominated in other currencies, or for any other pairs, which have a base currency other than your account is. These currency pairs also require the knowledge of the bid/ask price to convert the pip value to the account currency.
You might also be interested in our position size calculator. It can help you to calculate the optimal size of the position depending on your stop-loss in pips, risk tolerance and account size.
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Fibonacci Calculator

← Back to Forex Tools
The presented Fibonacci calculator will help you to generate four basic Fibonacci retracement values — 23.8%, 38.2%, 50% and 61.8%. All you need to do is to fill the current trend's highest and lowest values into the form below and press the "Calculate" button:
required
required
ResultsDirectReverse
100.0% Retracement Value
61.8% Retracement Value
50.0% Retracement Value
38.2% Retracement Value
23.6% Retracement Value
0.0% Retracement Value
Fibonacci retracement levels are a powerful Forex tool of a technical analysis. The main idea behind these levels is the support and resistance values for a currency pair trend at which the most important breaks or bounces can appear. It is recommended to set your stop-loss, take-profit as well as stop and limit orders at these levels or around their values. This Fibonacci calculator will organize your currency trading experience and will allow you to be in the market full-time.
You might also be interested in our pivot points calculator. It will help you to calculate various pivot points and support/resistance levels.

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MetaTrader Expert Advisors

← Back to Forex Tools
Here you can download MT4 and MT5 expert advisors (or EAs) which can be used with the MetaTrader Forex trading platform to enhance your currency trading results combining it with the automated trading or expert advising. Only best strategies embedded into expert advisors are presented here. You can test and change them freely before using on your real or demo Forex account. My own testing results are also included for your information. All expert advisors were selected to bring at least 10% yearly profit with maximum drawdown not higher than half of the yearly profit. You'll need an account with any of theMetaTrader Forex brokers to use any MT4 EA presented here.
If you are having any problems with installing the MetaTrader expert advisors into your MetaTrader platform, please refer to this tutorial: MetaTrader Expert Advisors User's Tutorial
If you want to achieve a better backtesting quality for your expert advisor, please read this tutorial on importing and converting quality historical data to the MetaTrader platform: MetaTrader History Data Importing and Converting Tutorial for Quality Backtesting
TitleCurrency pairsTimeframesCPU loadTest periodTest lotsBest resultTest profitMax DrawDown
AUD/JPY Wednesday 15:00AUD/JPYH1Almost 0%07/07/2008–
11/09/2009		1.0AUD/JPY @ H1~79%~10%

My rating:
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Special notes:Based on Wednesday AUD/JPY strategy.MT4/MT5
Adjustable MA 3GAllAllAverage04/01/2008–
04/01/2009		0.1EUR/USD @ M5~26%~4.3%

My rating:
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Special notes:Based on 3rd Generation Moving Average indicator.MT4/MT5
FrameworkAllAllAverage11/19/2006–
11/19/2007		0.1GBP/JPY @ D1~200%~20%

My rating:
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Special notes:Based on CCI indicators.MT4
PhoenixGBP/USD USD/JPY EUR/JPY GBP/JPY USD/CHFAllLow11/19/2006–
11/19/2007		1.0GBP/USD @ M15~64%~1.0%

My rating:
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Special notes:Based on breakouts.MT4
OtkatAllH1Low11/19/2006–
11/19/2007		1.0EUR/USD @ H1~79%~14%

My rating:
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Special notes:Pull-back strategy with low take-profit.MT4/MT5
MACD SampleAllAllLow11/19/2006–
11/19/2007		0.3GBP/USD @ H4~45%~10%

My rating:
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Special notes:Sample MACD EA optimized for GBP/USD @ H4.MT4
Adjustable MAAllAllLow04/01/2008–
04/01/2009		0.1EUR/USD @ M5~19%~10%

My rating:
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Special notes:Customizable moving average cross EA.MT4/MT5
Artificial IntelligenceAllAllAverage11/19/2006–
11/19/2007		0.1GBP/USD @ H1~17%~0.1%

My rating:
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Special notes:Simple neural network.MT4
ATR TrailerAllAllLow12/13/2010–
08/05/2011		0.1EUR/USD @ H1~15%~6%

My rating:
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Special notes:Based on ATR trailing stop.MT4/MT5
Spike TraderAllAllLow01/01/2001–
05/11/2012		0.1USD/CAD @ D1~74%~5%

My rating:
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Special notes:Based on USD/CAD spike trading strategy byCurrency Trader magazine.MT4/MT5
myFXOverEasyAllAllHigh11/19/2006–
11/19/2007		0.1USD/CHF @ H4~18%~5%

My rating:
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Special notes:Multiple indicators system.MT4
myPickyBreakoutAllAllLow11/19/2004–
04/15/2009		0.1EUR/USD @ D1~28%~8%

My rating:
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Special notes:Simple breakout strategy for Tuesday, Wednesday and Thursday.MT4
MACD PatternEUR/USDH4Average11/19/2006–
11/19/2007		0.3EUR/USD @ H4~81%~28%

My rating:
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Special notes:EA based on MACD patterns for EUR/USD @ H4.MT4
BinarioAllAllAverage11/19/2006–
11/19/2007		1.0GBP/USD @ D1~500%~28%

My rating:
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Special notes:Traded only 4 times during the test. Better use as manual system.MT4
myRandomAllAllLow11/19/2006–
11/19/2007		0.1GBP/JPY @ H1~16%~0.3%

My rating:
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Special notes:Completely random expe

MetaTrader Expert Advisors

← Back to Forex Tools
Here you can download MT4 and MT5 expert advisors (or EAs) which can be used with the MetaTrader Forex trading platform to enhance your currency trading results combining it with the automated trading or expert advising. Only best strategies embedded into expert advisors are presented here. You can test and change them freely before using on your real or demo Forex account. My own testing results are also included for your information. All expert advisors were selected to bring at least 10% yearly profit with maximum drawdown not higher than half of the yearly profit. You'll need an account with any of theMetaTrader Forex brokers to use any MT4 EA presented here.
If you are having any problems with installing the MetaTrader expert advisors into your MetaTrader platform, please refer to this tutorial: MetaTrader Expert Advisors User's Tutorial
If you want to achieve a better backtesting quality for your expert advisor, please read this tutorial on importing and converting quality historical data to the MetaTrader platform: MetaTrader History Data Importing and Converting Tutorial for Quality Backtesting
TitleCurrency pairsTimeframesCPU loadTest periodTest lotsBest resultTest profitMax DrawDown
AUD/JPY Wednesday 15:00AUD/JPYH1Almost 0%07/07/2008–
11/09/2009		1.0AUD/JPY @ H1~79%~10%

My rating:
  •  
  •  
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Special notes:Based on Wednesday AUD/JPY strategy.MT4/MT5
Adjustable MA 3GAllAllAverage04/01/2008–
04/01/2009		0.1EUR/USD @ M5~26%~4.3%

My rating:
  •  
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Special notes:Based on 3rd Generation Moving Average indicator.MT4/MT5
FrameworkAllAllAverage11/19/2006–
11/19/2007		0.1GBP/JPY @ D1~200%~20%

My rating:
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Special notes:Based on CCI indicators.MT4
PhoenixGBP/USD USD/JPY EUR/JPY GBP/JPY USD/CHFAllLow11/19/2006–
11/19/2007		1.0GBP/USD @ M15~64%~1.0%

My rating:
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Special notes:Based on breakouts.MT4
OtkatAllH1Low11/19/2006–
11/19/2007		1.0EUR/USD @ H1~79%~14%

My rating:
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Special notes:Pull-back strategy with low take-profit.MT4/MT5
MACD SampleAllAllLow11/19/2006–
11/19/2007		0.3GBP/USD @ H4~45%~10%

My rating:
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Special notes:Sample MACD EA optimized for GBP/USD @ H4.MT4
Adjustable MAAllAllLow04/01/2008–
04/01/2009		0.1EUR/USD @ M5~19%~10%

My rating:
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Special notes:Customizable moving average cross EA.MT4/MT5
Artificial IntelligenceAllAllAverage11/19/2006–
11/19/2007		0.1GBP/USD @ H1~17%~0.1%

My rating:
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Special notes:Simple neural network.MT4
ATR TrailerAllAllLow12/13/2010–
08/05/2011		0.1EUR/USD @ H1~15%~6%

My rating:
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Special notes:Based on ATR trailing stop.MT4/MT5
Spike TraderAllAllLow01/01/2001–
05/11/2012		0.1USD/CAD @ D1~74%~5%

My rating:
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Special notes:Based on USD/CAD spike trading strategy byCurrency Trader magazine.MT4/MT5
myFXOverEasyAllAllHigh11/19/2006–
11/19/2007		0.1USD/CHF @ H4~18%~5%

My rating:
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Special notes:Multiple indicators system.MT4
myPickyBreakoutAllAllLow11/19/2004–
04/15/2009		0.1EUR/USD @ D1~28%~8%

My rating:
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Special notes:Simple breakout strategy for Tuesday, Wednesday and Thursday.MT4
MACD PatternEUR/USDH4Average11/19/2006–
11/19/2007		0.3EUR/USD @ H4~81%~28%

My rating:
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Special notes:EA based on MACD patterns for EUR/USD @ H4.MT4
BinarioAllAllAverage11/19/2006–
11/19/2007		1.0GBP/USD @ D1~500%~28%

My rating:
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Special notes:Traded only 4 times during the test. Better use as manual system.MT4
myRandomAllAllLow11/19/2006–
11/19/2007		0.1GBP/JPY @ H1~16%~0.3%

My rating:
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Special notes:Completely random expert advisor.MT4/MT5
AmazingAllAllLow11/30/-0001–
11/30/-0001		––––

My rating:
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Special notes:News trader. You give it a date and time of a news and it sets up the breakouts. Good for Forex news traders.MT4/MT5
rt advisor.		MT4/MT5
AmazingAllAllLow11/30/-0001–
11/30/-0001		––––

My rating:
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Special notes:News trader. You give it a date and time of a news and it sets up the breakouts. Good for Forex news traders.MT4/MT5









































































































































































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