The Forex Calculator - Stop & Reverse Plans
If you use any loss-recovery method such as stop-and-reverse or cost-averaging, this sophisticated yet easy-to-use page of the Calculator lets you see your maximum risk potential before you put on your trades.
Plan ahead by setting out the entries and stops of all your intended legs in advance so that you can gauge your risk and decide exactly how aggressive or conservative you want to be. Even if you adjust your subsequent entry points or stops as the trade progresses, setting approximate entries and stop prices at the beginning of the trade for future legs, will help you stay within your risk parameters.
Choose the exact number of legs you wish to be displayed on the Setup tab – your display is customized to match your own preferences.
If you set the Recovery Plan to "Stop and Reverse", and set the direction of your first trade (Leg One), then all the other legs are automatically set for you (Buy > Sell > Buy > Sell, etc.). If you set the Recovery Plan to "Cost Average", and set the direction of your first trade, then all the other legs are automatically set to be the same direction (Buy > Buy > Buy, etc.). If you set the Recovery Plan to "Combo", you can manually set the direction of each leg. Simply switch to Combo if you started doing a stop-and-reverse, then at some point found that a cost-average trade would be more appropriate as the next leg.
Use the drop-down Effective Pip Goal menu to quickly see where your break even is. Your break even price is always displayed, as well as the number of pips you need to reach it.
Easy to see yellow, orange and red flag warnings appear for any leg that might place you near or over the drawdown warning level you set on the SetUp tab.
Turn alerts on or off. The Calculator receives a live data feed, so it is always monitoring current price and the built-in alerts can remind you to remove a pending order for a next leg or set a new leg if a stop is hit. Alerts are loud (yet friendly) sounds, as well as visual messages.
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