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RiskReward Draw Tool

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The RiskReward Draw Tool software is a Drawing Tool Add On that helps map out your Trade Plan. Given a Stop size, you can plan up to 4 Targets at your own chosen Risk Reward Multiples.

 

 

Platforms

Ninjatrader

Category: Free Tags: Drawing Tools, Risk Management, Trade Planning
    • Description
    Description

    Overview:

    The RiskReward Draw Tool software is a Drawing Tool Add On that helps map out your Trade Plan. Given a Stop size, you can plan up to 4 Targets at your own chosen Risk Reward Multiples. By displaying the distance to each marker in Ticks/Dollars/Percent, it is quite fast and easy to verify that your Trade Plan conforms to your risk parameters.

    Purpose:

    Traders need the RiskReward Draw Tool because managing risk is the number one job of any trader. Your Trade Plan includes your personal Risk Model but how do you ensure that your Stops and Targets follow the rules? Having a tool that efficiently lays out all the risk/reward calculations in easy to read fashion is truly valuable.

    Elements:

    1. Risk Reward Trade Plan (Entry, Stop, Targets)
    2. Up to 4 Targets
    3. Custom RR Target Multiples
    4. RR Measurement Labels (Ticks, Dollars, Percent)

    Functions:

    The RiskReward Draw Tool is best used by first customizing the settings to match your personal Risk Reward parameters. Then when you are planning a trade, you can drag your stop to the correct dollar amount. At that point all your Targets are displayed with the associated profit at each location. Being able to do this quickly is important when trading in live markets.

    Problem Solved:

    • Stops traders from second guessing Trade Management
    • Stops traders from violating their Trade Plan
    • Stops traders from violating their risk rules
    • Stops traders from exiting too early
    • Stops traders from failing to let their winners run

     

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    ARC-AI has no financial interest in the outcome of any trades mentioned herein. There is a substantial risk of loss when trading securities. You need to determine your own suitability to trade them. There may be tax consequences for short term profits or losses on trades. Consult your tax professional or advisor for details on these if applicable. Neither ARC-AI, nor its principles or employees are licensed brokers or advisors. Becoming a subscriber and/or trading any of these lessons or strategies presumes you have fully read and understood the risk involved in trading as set forth below:

    ARC-AI offers services and products for educational purposes only. The generic market recommendations provided by us are based solely on the judgment of our personnel and should be considered as such. You acknowledge that you enter into any transactions relying on your own judgment. Any market recommendations provided by us are generic only and may or may not be consistent with the market positions or intentions of our firm and/or our affiliates. Any opinions, news, research, analysis, prices, or other information contained on our website or by presentation of our material is provided as general market commentary, and do not constitute advisory services.

    CFTC RULE 4.41 – Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
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