Risk Calculator Deluxe MT5 by PhipsProduktion

For both experienced traders and novices in the forex market, the Risk Calculator Deluxe MT5 stands out as a versatile and efficient tool. This comprehensive software, developed by PhipsProduction, is designed to offer precise risk management in just a few clicks. Its user-friendly interface and visual risk area make it suitable for all users, regardless of their trading experience.

Compatibility and Market Suitability

The Risk Calculator Deluxe is compatible with all MetaTrader account currencies and is adaptable to common markets, excluding bonds of all kinds. Its versatility enhances its applicability, making it an essential tool for a wide range of market participants.

Unique Features of the Risk Calculator Deluxe

The deluxe version of the calculator introduces several new functions to help traders manage their risks effectively. One of these is a pre-calculation feature that provides an overview of the volume, risk, profit, and margin expected for a position before it is opened. This allows traders to make informed decisions on both market orders and pending orders.

An innovative feature is the dynamic movement of set price lines. Active traders will also find the margin check function beneficial as it adjusts the position size based on the specified maximum margin. This is calculated from the account balance and the already invested margin, ensuring that traders keep their risk at a manageable level.

The Risk Calculator Deluxe also offers the option to specify the proportion of the account balance that can be invested per order. This feature, coupled with the ability to set a take profit when opening a position, enhances the efficiency of the tool, therefore, optimizing the chance-risk ratio.

How to Use the Risk Calculator Deluxe

Using the Risk Calculator Deluxe is straightforward. Users start by checking inputs, then choose the type of order. They then double-click on the price level where they want their stop loss to be. After checking the confirmation line and pre-calculation, users can use the arrow keys to reset the confirmation line or calculate and set the order according to the specified risk. The tool also allows users to let profits run, enhancing its overall efficiency.

The program comes with hot keys for easy navigation. For instance, the arrow key up confirms and sets the order, the arrow key down resets the confirmation line, and the arrow key right switches the overlay on/off. Other hot keys include the F7 key to open inputs, the P key to set a pending order, the M key to set a market order, and the Hash key to exit the program.

Risk Calculation Inputs

The Risk Calculator Deluxe offers two types of risk calculation: the amount of money, which risks according to a specified fixed amount of money; and the percentage, which risks as a percentage of the account balance. Users can set the fixed amount of money that is risked or the percentage that may be risked.

Before starting the calculator, users should ensure that algo trading is allowed. Should there be any issue, the program communicates instructions at the top of the chart.

Independent Testing and User Experiences

Independent testing of the Risk Calculator Deluxe MT5 is available on the forexroboteasy.com website. Users can also subscribe to updates on the results of testing this product. We invite users to share their experiences with the tool to provide a holistic view of its effectiveness.

FAQ

Is the Risk Calculator Deluxe suitable for new market participants?

Yes, thanks to its easy handling and visual risk area, the Risk Calculator Deluxe is not only perfect for experienced traders, but also a must for new market participants.

Can I move set price lines dynamically?

Yes, the Risk Calculator Deluxe allows for the dynamic movement of set price lines, enhancing its usability.

How do I ensure that the margin calculation is accurate?

If you find that the margin calculation is inaccurate, activate Leverage Manual and compare the level variable with your broker’s contract specification.

Note: This is an independent product review. The Risk Calculator Deluxe is not associated with the author of this article.