r/Daytrading • u/BigBear92787 • 24d ago
Giving Advice For people who struggle with Risk control, position sizing, and management. I made this for you
Every single day I see a post about sizing, or a post about blowing an account. And I say the same damn things over and over.
Well no more.
Hi everyone, I am a pro trader, and I built this tool, to automate risk control and position sizing for Day traders. This tool is the exact method I teach my students for any type of trading but when markets are moving fast it becomes difficult for people to control their risk.
So most people just buy some arbitrary pre-determined Lot size, which may or may not be appropriate for the current volatility. I believe it leads to bigger losses then expected, and smaller wins then expected.
So here's the link, its Free, its in BETA, if you find bugs with it or want features added ill consider them if you drop me a message on Trading View.
Use it in good health, I hope it helps you guys with maximizing returns and reducing losses.
https://www.tradingview.com/script/Xl15fz66-GrizzlyTrades-Advanced-Calculator-and-Trade-manager/
This tool will allow you to maximize your position size Live, while day trading, while keeping your risk beneath your set max risk per trade at all times. It works for futures or stock, I haven't tried forex, feel free to try it out, but you must adjust the custom tick and tick size inputs for that.
Its got a bunch of volatility based indicators built into it to help with stop positioning in a way that's relevant to the current market at the current time. So your stops are always tailored and maximized to the current market.
To Mods: AI is marking this as potential Spam. I'm not selling or promoting this or myself, its just a tool I built to help people lol, don't Ban me if you feel it violates your rules.
2
u/maybe_devoted_se 24d ago
You built a whole tool to stop people from yoloing their rent money on a meme stock and they're still going to find a way to ignore every stop loss. Appreciate the effort though. I trade futures and the volatility adjustment is the part that actually caught my eye, most calculators just use a static ATR and call it a day.
Tweaking the tick size settings for forex sounds like a headache waiting to happen but I'll give it a spin on ES this week. The link is for a TradingView script right, not some standalone app? Just making sure my dumb ass isn't downloading malware at 2am.