Trade Calculator For All Open Trades To Reach Breakeven [Request]

[Admiral-Chief-General]

Hi everyone,

I am looking for a trade calculator to calculate the exact price which all my trades will be in breakeven. I hedge with the same pair many times, so I need to know at which price my trades are in breakeven. e.g. I have multiple 0.01 lot EUR/USD BUY and multiple 0.02 lot SELL positions, so I want to know at which price will I be at breakeven.

There will also be an input of the spreads which I can enter to be included in the calculation.
There will also be an input of the different pair so the calculator knows which $/pip rate to use.
There will also be an input on how many pips in profit I want from all this trades I am in and display how much money I will profit.
e.g. I have more SELL positions and I will breakeven at 1.1340, what if I want to close all positions at 1.1330, I want the calculator to show me how much profit I will gain if I set the take profit at 1.1330

Additional:
The calculator can help to set the T/P and S/L for all my position automatically. As I hedge with the same pair, I will need to close the bigger SELL lots with T/P and smaller BUY lots with S/L to gain an overall profit.

I hope that this is clear, I will draw an example using excel and post here as soon I can. I appreciate those who reads this and helps out.

Please ask any questions if you are unclear.

 

[Pharaoh]

Ummmmmmm.......

If you've got equal hedged positions, until the daily rollover, you won't gain or lose anything. Close the short side (or part of it) because prices are shifting upwards and you could get nailed by a reversal.

I suppose for uneven hedges, you could calculate a BE target, but in that case, why not just shut down all but the unmatched part of the hedge? Then you've got a much smaller trade to pay swaps on if the trade extends past rollover time.

 

[Admiral-Chief-General]

Yes, it's uneven hedges,

my idea is to never close until I have overall profit. thanks for ur comment and reading the post.

btw, I'm trading swap free.

 

[Admiral-Chief-General]

Some progress: (Look at pic)

I still have to manually enter the "Current Price" to get the break even point.

This is only for EUR/USD as other pair have different $/pip value.

Lastly, I have to go back to the MT4 platform to set the T/P & S/L manually.

Additionally, this would be perfect for FIXED SPREAD accounts.

That's all for now.

 

[Pharaoh]

Hedging does work better if you can be swap free and have narrow spreads. Still, if you are looking for a BE point or a profit point, you are still working on the assumption that price movement will be in favor of the larger side of the hedge (so could simply trade only the difference to save on trading costs), unless your plan is to buy/sell more if price moves against your plan and recalculate your target. If so, that sort of grid can get bad if price decides to behave unpredictably inside a narrow band.

 

[Admiral-Chief-General]

agreed pharaoh.
I've tested both indicator by redrhino and goopfx, I'll post pics next time.

Redrhino, nice clean indicator, what I like best, it shows the pips to hold, or how many more pips before my account reach margin call, mine was 14,000 pips, lol.
The breakeven level calculated was wrong, the line was grey and abit too thick for me, no modification allowed on this.

goop, it was minimalist. very simple indicator on the top right hand side, but again, the calculation was wrong, i think it calculated all open orders, not just the pair i placed it on the chart, and net lots calculated was also wrong. it was 0.04 but the indicator showed 0.12, anyway, lastly, after remove the indicator i had to also remove the 'object'.

futurespec, I also tried your, maybe I do not know how to use the settings.
I changed the font colour to white but only see the pairs and no info after that.

I'm using 5 digit broker, and also, i appreciate all the help. I am currently using the "average price v 3" indicator by Joca, you can google it, should find it. thanks guys. this indicator was by PM from myfxbook, i appreciate it!

 

[Pharaoh]

14,000 pips from margin call. I guess I don't need to lecture you on risk management.

I'm curious to see why/how you are hedging?

 

[Admiral-Chief-General]

hehe, that was just a test pharoah... this might scare u a bit more.. lol

Hey guys, this is the indicator right now.

It gives me a line (i changed it manually to aqua colour), then reduced it's width to 1, then... on the picture... the break even price, then the distance in pips, then the current amount in profit/loss for that particular pair, the net lots opened, then finally the number of order for that particular pair.

personally, I think it's too much info, but it's very good anyway, I emailed 'thanks' to the creator of the indicator, and he/she responded.

i'm using time, i believe, with time, the market will show it's hand, i will eventually be wrong, so this is more of a back up plan, I will set this and just wait patiently until my line is hit. It also helps to visualize how far my target is. take care pharoah... please send my regards to moses if you see him.

 

[Admiral-Chief-General]

this is a another picture, a better picture where I am not in NEGATIVE... lol

 

[Pharaoh]

I'm still curious about why you are hedging in the first place. If I think the EURUSD is going up 10 pips, and I want to put 0.2 lots at risk, I'll go long 0.2, not long 1.2 and short 1.0.