Money Management - Forex

[jg123]

I am now virtually completed with the coding of my strategy, but now I need to add in the position sizing elements and I am completely clueless of how to do that.

Currently everything is set to "DefaultSize" in my code, but how do I know what the default size is and how do I go about changing that to risk a percentage of my account?

I imagine that it will be a bit difficult to size it exactly according to a percentage of account because it is forex and the quote currencies that I trade are not all the same as the account currency.

can you send me to where I can find some documentation on this?

Thanks!

[NinjaTrader_JC]

Hello jg123,

I believe you mean "DefaultQuantity", this is going to set inside of your Strategy Parameters section of your strategy when you start it under "Order Properties" and using the "Set order quantity" to "by default quantity". Here a user can define the "Default quantity" of the strategy.

To be able to set a risk amount this would have to be custom coded inside of your strategy and may be difficult like you stated. You may use something like "GetAccountValue()" and be able to manage your orders this way.

Here is our Help Guide about the different Account values that you can get inside of your strategy.

http://www.ninjatrader.com/support/helpGuides/nt7/getaccountvalue.htm

Let me know if you have any further questions.