The ARC_USDperPoint software solves the sizing problem when trading forex pairs. Draw tools in Ninjatrader cannot access the realtime cross exchange rates so when using a Draw Tool to calculate the appropriate lot size for a given Dollar Risk Per Trade, the lot size can be inaccurate. The USDperPoint software helps you solve this issue by calculating the correct Point Value (in USD) for each forex pair. You then enter that value into the “Point Value” Instrument setting for the pair. Following this approach, the RiskReward drawing tool will always calculate a more accurate lot size for your defined Dollar risk per trade.
Traders need the USDperPoint software because trading forex can be confusing when trying to determine the appropriate lot size for your defined dollar amount of risk per trade. This is especially true when trading forex pairs where the USD is neither the base currency or the quote currency. All that is needed is to add this custom column to a Market Analyzer window and then enter those numbers in the Instrument settings so that lot size calculations are accurate.
- Market Analyzer column displaying USD Point Value for each pair
- Updates in real time for the most accurate and up to date values
- Ensures trade size calculations are accurate when trading non-USD forex pairs
The USDperPoint software is best designed to be used on a daily basis to keep your USD Point Values accurate. Once you have a Market Analyzer set up in your workspace, the numbers that you need will always be there and up to date. The best practice is to update the Point Values daily which ensures that you will always set your trade size accurately in accordance with your risk model.
- Stops traders from second guessing trade size when trading spot forex
- Stops traders from wasting time trying to figure out confusing exchange rates
- Stops traders from taking too much risk
- Stops traders from planning trades using data that is out of date