GoCharting Docathlon
The Long Position tool allows the user to set an entry point and assume a long position from that point. Extending above and below that price level will be two boxes; green for the profit zone and red for the loss zone. Both zones can be manually adjusted by the user to change the risk/reward ratio.
Can change the color and thickness of the line separating profit/loss areas as well as the profit and loss targets.
Sets the color for the stop loss region.
Sets the color for the profit target region.
Can select the text color as well as font type and size.
Can manually enter the desired profit target level using ticks or an exact price.
Allows for the precise placement of trade’s entry point.
Can manually enter the desired stop loss level using ticks or an exact price.
This feature lets you estimate how an order will go if you go long or short, shows the Profit & Loss (PnL) and estimates risk and closing account balance when price reaches your profit target or stop loss levels.
You can practice placing orders and seeing results without actually having to place the orders — get confident and knowledgeable before risking real money in the markets.
1. Create a Long Position or Short Position drawing.
2. In Appearance dialog of the instrument enter your initial account size and risk amount (either in absolute numbers or as a % of your account size), and click OK to accept.
3. Drawing tool tags will show you position size (1) and account balance when positions are closed after reaching either the Take Profit (2) or the Stop Loss (3) level.
RiskSize = Risk, if risk is selected in absolute numbers OR
Risk / 100 * AccountSize, if risk is selected as a percentage of account size.
Try using the Compact Mode if you want the position performance tags to consume less space on the chart. You can enable by choosing the Compact checkbox in Settings.
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