Equalized Risk Per Trade Script HELP

[[email protected] 0]

Hi All,

This has probably been asked multiple times regarding Kyle's Equalized risk per trade hot key, can anyone please help me?

1. How do I change the script from $risk to %risk? I want to be able to use 2% of my equity per trade instead of the fixed amount.

2. Is there a way to set the stop loss to .50c for every trade? this way I can compute for my R. In the current script I have to manually subtract the entry and stop loss to know my R's.

3. Can the script be reversed, instead of double clicking the stop loss, you double click your actual entry (and have a specified stop loss e.g., .50c less)

Hope this makes sense. any help would be appreciated. 

 

Regards,

Phil

[peterB 327]

hi Phil,

all your answers are here

https://traderpeter.substack.com/s/dastrader-hotkeys

[[email protected] 0]

Thank you Peter. 

[Elie 0]

@Pete B, Hi Peter,

So the Static risk with % of your Account doesn't use the 92.5% buying power ? because it is not mentioned in the script 

is this script availble with the 92.5% buying power?

Now if I want to risk 0.2%, I should devide by 500 right ?

and I can either apply it, or check my account Equity every day and based on the 0.2% and change manually the $Risk in the Equalized Risk hot key

Edited June 22, 2024 by Elie

[peterB 327]

92.5% buying power - no but if you need it just multiply the BP by 0.925 and you get the same thing

0.2%, I should divide by 500 right  - correct

or check my account Equity every day - correct

note that the example https://traderpeter.substack.com/p/das-advanced-hotkeys-part-4

counts with initial equity, not buying power. But you get the idea - it can be easily changed to BP but BP changes all the time and many times does not reflect the capability to buy or short the stock due to margin requirements.

next version shall be able to read the symbol margin requirements so we can implement that too once it is available

[Elie 0]

@Pete B

Thanks peter,

I like using the Equalized Risk hot key because it uses buying power which inlages the share size and becuase we are day trader and do not hold positions over night we don't pay margin/ Leverage fees right ? that's why I want to use the Bying power option

as fo this hotkey it's not working some how, when I hit the hot key it says: invalid shares

Also the 1 to 2 R hot key : CXL ALLSYMB;StopPrice=Price-0;DefShare=BP*0.97;Price=Ask-Price+0.00;SShare=40/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price= Ask+0.05;TIF=DAY;BUY=Send;DefShare=200;Price=Ask-StopPrice*2+Ask;TriggerOrder=RT:STOP STOPTYPE:RANGE LowPrice:StopPrice HighPrice:Price ACT:SELL QTY:POS TIF:DAY+;

is not showing the  profit target on the chart, it shows only the stop

Edited June 22, 2024 by Elie

[peterB 327]

you should want to use the equalized risk per trade for statistical reasons 

regarding the non working hotkey i can only recomend you to use the steps i covered in my substack articles about dastrader hotkeys

[Elie 0]

ok Peter,

Thank You

[Elie 0]

@Pete B

Hi Peter, hope your doing well,

I'm a little confused between the "Add To A Winning Position Script (Free Roll) in the DAS Video Series PDF, and your "Simple Hotkey to add into a long position while keeping the desired risk", now I know that the Add To A Winning Position Script (Free Roll) uses unrealized P&L and yours dosen't, how does the one that uses the unrealized P&L actually works? becuase I noticed that when having $40 unrealized P&L in a stock of $150 it adds a lot more shares, could you please explain, thank you 

[peterB 327]

the free roll is explained here https://open.substack.com/pub/traderpeter/p/das-trader-advanced-hotkeys-part?r=1wujo4&utm_campaign=post&utm_medium=web

while the keeping desired risk is different because with freeroll you click and see that clicked point to be break-even point while the other one is click and make the clicked point a desired risk amount of $ (theoretically can lower your number of shares too)

freeroll - you add and risk 0 (as you risk unrealized only)

add and keep the desired risk - you add and risk is desired amount (because you already partialed or have not yet reached unrealized but want to tighten the stop)

 

how much shares are added in both cases depends on the distance fromt he actual price and the new desired stop.

if your $150 stock risk $40 was on $1 or $149 and you tighten it to $149.90, to keep the risk $40 on $0.10cents (plus some) you need to add ~360 shares to be at 400 shares as 40/0.1(new stop) equals 400

[Elie 0]

thanks a lot peter