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Speaking of position sizing, here's a little position size code
indicator you can plot before you buy a stock. It will tell you how
many shares you should buy based on your risk level and the ATR of
the stock. If you want to know more about how this works, read about
position sizing using volatility. You can make other indicators from
it that tell you how much you're going to invest in that stock, etc.
Have fun! And it's FREE, FREE, FREE.
Make an indicator out of this. Name it whatever you want! I like to
call mine Black Hole for Money Indicator
CapitalAccount:=Input("Size of Capital Account",5000,10000000,100000);
RiskPercent:=Input("Account Risk Tolerance in
Decimals.",0.001,100,0.01);
VT:=Input("ATR Periods for Calculating Volatility.",1,100,10);
Bars:=Input("Number of Bars for Smoothing ATR.",2,100,10);
WhimpFactor:=Input("Personal Risk Profile-1 Cowboy to 7 Whimp",1,7,3);
x:=Mov(ATR(VT),Bars,S);
RiskPercent*CapitalAccount/(x*WhimpFactor)
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