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eSignal12MoneyManagementPlanner
Overview
OpeningaMoneyManagementPlannerWindow
MoneyManagementPlannerToolbarComponents
ExitStrategies
StopStrategies
ApplyingtheMoneyManagementStrategytoanOrder
MoneyManagementStrategyFAQs
Overview
TheMoneyManagementPlanner,incombinationwiththeTradeManagerandChartTrading,allowstraderstoapplypredefined,
sophisticated,andautomatedmoneymanagementstrategiestoapositionwhenitisopened.Themoneymanagement
strategiesconsistofexitstrategiesand/orstopstrategiestobeappliedwhentheprimaryorderisexecuted.
Note:MoneyManagementStrategiesarenotsupportedforFXCM,InteractiveBrokerFinancialAdvisor(FA)Accounts,MB
Trading,Forex.comandTransActduetoAPIlimitations.BrokerAPIsmustprovideaveragepricecalculationsinorderforMM
Strategiestoperformcorrectly.ThiscalculationisnotprovidedbytheeSignal12applicationatthistime(asofthe
eSignal12.0release).
OpeningaMoneyManagementPlannerWindow
ToopenaMoneyManagementPlannerwindow,onthemainmenubar,clickTrade,thenMoneyManagementPlanner.
MoneyManagementPlannerToolbarComponents
ExitStrategies
Exitstrategiesareusedtoexitapositioninaspecifiedmannereitherthroughaprofittargetorstoplossoracombinationof
them.
CreatingaNewExitStrategy
Tocreateanewexitstrategy,clickthe+(plussign)onthetitlebar.IntheNewStrategybox,enteranameforthestrategy
andclickOK.
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Thenextstepistosettheparametersofyourmoneymanagementstrategy.
Quantity:Numberofshares/contractsbeingmanagedatthislevel.
Profit:ThenumberofticksfromtheentrypricewheretheSellLimitOrderwillbeplacediflong,ortheBuyLimitOrder,if
short.
Stop:ThenumberofticksfromtheentrypricewheretheStopOrderwillbeplaced.
StopStrategy:SelectNotoapplynostopstrategy,Newtocreateanewstopstrategy,orselectanexistingstopstrategy.
AddLevel:CreatesnewlevelsoftheExitStrategies.
RemoveLevel:RemovesthehighlightedleveloftheExitStrategy.
Pyramid:ThissettingisusedwhenaddingtoordecreasingyourcurrentpositionwithanassociatedMoneyManagement
Strategy.
None:Applynopyramidingstrategy.
Adj.QtyOnly:Adjustthequantityofshares/contractswithpyramidstrategy.
Adj.Qty&Price:Adjustthequantityandpriceofshares/contractswithpyramidstrategy.
SettheparametersforeachofthefieldsandclickClose.
ExampleofHowtoCreateanExitStrategywithoutaStopStrategy
Here'sanexampleofhowanexitstrategyworksonasinglelevelexit:
Wewanttogolong4contractsofNASDAQ(NQ)EMini.
WewanttosetaStopLossat8ticksfromtheentryprice.
Wewanttosetaprofittargettoclosetheposition10ticksfromtheentry.
HereiswhattheStrategywouldlooklikewiththesesettings:
StopStrategies
StopstrategiesallowuserstoautomaticallyadjusttheprimarystopbasedonsettingsintheStopStrategyWindowtobetter
manageprofits.Astopstrategyallowsyouimplementtrailingstops,breakevenstops,andfixedstops.
CreatingaStopStrategy
Whensettingupanewexitstrategy,userscanselecteither"No","New"orapreviouslycreatedstrategy.Selecting"New"
allowsnewstopstrategiestobecreated.
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AStopStrategydialogwindowwillappearreadyfortheusertoentertheappropriatevaluesneededtocompletethestop
strategy.
Type:TherearethreetypesofstopsfortheStopStrategy,
Trailing:Atrailingstoponcetriggered,willcontinuetomovetothenewstoplevelsatthefrequencyyouset.
FixedStop:Afixedstopistriggeredonlyonceandremainsatthenewstoplevel
BreakEven:ABreakevenstopismuchlikethefixedstop,howeveritmovesthestopordertowhereyouenteredthe
trade.
Trigger:Numberofticksthetrademustgobeforethestopstrategyexecutes.
Stop:Numberofticksthestopstrategywillmoveawayfromthelasttradedpricewheninitiated.
Frequency:Thenumberofticksatradecancontinueinaprofitabledirectionafterthetriggerbeforethetrailingstopwill
moveagain.
AddTarget:CreatesanewlevelfortheStopStrategy.
RemoveTarget:RemovesthehighlightedStopStrategylevel.
Oncetheparametersforthestopstrategyareset,clicktheExitStrategiestabandselectthenewlycreatedstopstrategyto
associatewiththeexitstrategyandclickClose.Whentheprimaryorderisfilledandtheparametersofthestopstrategyhave
beenmet,theinitialstoporderwilladjusttoit'snewlevel.
ExampleofcombiningaStopStrategywithanExitStrategy
UsingtheNQTestexampleabove,aftertheprimaryorderhasbeenfilled,theexitstrategy(NQTest)isexecutedwithaStop
Orderplaced8ticksbelowtheEntryPriceandaLimitOrderplaced10ticksaboveit.Oncethepositiongets10ticksinthe
money,thestopwillbeadjustedfromoriginal8tickstonow5ticksbelowthecurrentpriceandthestopwillbemovedup
everytimethepositiongoes2ticksfurtherintothemoney.
ApplyingtheMoneyManagementStrategytoanOrder
Thisexitstrategycannowbeaddedtoanyorderyou'replacingbyeitherusinganorderticketortheTradeManager.
TheOrderTicket
SelectastrategyfromthedropdownmenuontherightsideoftheorderticketlabeledExitStrategy.
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TradeManager
WiththeTradeManager,selectthestrategybyselectingfromthedropdownmenuandthenclicktheBuyorSellbuttons:
MoneyManagementStrategyFAQs
I'mtradingstocksandsetmystopto10.Whatdoesthe10represent?Thiswouldrepresenta10tickstoplossfromthe
entryprice.Sincetheminimumtickformoststocksis.01,thiswouldrepresentastoplossat.10(.01X10).Forfuturessuch
astheEminiS&P,theminimumtickincrementis.25soa10tickstopwouldbe2.50.
WhenIplaceatradewithanMMSassociatedwithit,Idon'tseethestoplossorprofittargetonthecharts.Beforethe
MMStakeseffecttheprimaryordermustfirstbefilled,soonceit'sfilledyou'llseetheotherorder(s)appearinthedifferent
tradewindows.
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