Hotkey for Position Size in Stocks

[Ditty9295]

Hello Everyone,

I am new to Motivewave, and I would like to create an hotkey that would calculate for me the number of shares that I need to buy in order to keep a fixed amount of risk per trade.
Basically the formula would be, in the case of a long trade:

Predefined $ Risk/(Entry Price - Stop Price)

In my case I would like to have the parameters:

- Entry = Previous Candle High
- Stop Price = Previous Candle Low

In this case, therefore, my quantity of shares would have been predetermined based on the range of the previous candle.
My Idea would be to Assign this to a hotkey that I could use when the trade opportunity comes alive.

Is this something possible?

Thank you very much for your help

 

[Johnedoe]

Yes it is possible but you just need to find someone that can program it for you.
Unfortunately I do not have those programming skills.

 

[Spin]

Yes it is possible but you just need to find someone that can program it for you.
Unfortunately I do not have those programming skills.

@Johnedoe is right: you could probably program this by using this:

(upon keypress you would get that value, divide it by 100 and then multiply that number by the wanted risk %)

 

[Johnedoe]

I made a quick position sizing calculator spreadsheet but not sure how to attach it here for you.
It's a numbers spreadsheet which is MAC but excel should be able to convert it.
Here is a screen shot.