You're welcome Diver, and you are definitely not 'simple'!

Also, trust RC to come up with a fantastic tool from babypips!

(might "borrow" that feature when updating my own spreadsheet!)

RC you legend!

Diver,

pip value, position size and R:R calulator

www.babypips.com/tools/forex-calculators/


might be of help

Libero you're a star, and an angel, and a godsend. And you're right, I am simple Yes, I am twisting your words But yes, I have the spreadsheet but need the additional field

I'll give it a go and get back to you. I'm in the middle of installing another PC so it might be a day or two before I'm done.

I'm day trading and enter my stop and my target the moment I get into the trades, so that I know how much I can lose before I enter. Well, I would if I could work out the conversion rates

Big thanks in advance.

Diver

diver993 wrote:
Hey Diver,

I'm assuming that you've already got your trading spreadsheet sorted out already right? By that I mean you have your Trading Account Size, Risk Percentage, Risk size, etc already sorted, and that you simply looking to add a field that gives you a cross value (e.g. Eur / JPY), then convert to GBP.

Really simple, and will take you a minute or two if you've got excel and an internet connection:

The first thing you need is to Grab yourself currency rates via Excel, and one (of many ways) is to use Data / Connections / Money Central Investor Currency Rates.

The 2nd Step is to Import this data to the place of your choosing.

Once done, select the daddy (e.g. the EUR in your EUR/JPY example) conversion to Sterling, reference it in your Trading Spreadsheet, and that's it!

Good luck man, and be safe with your trades - Remember Remo's advice from way back about trading anything with the JPY, or you could lose your shirt!

Hi Libero,

Thanks for your response. I asked the question because I am struggling to find a formula in Excel to calculate 2% of my capital - which is in UK£ - when trading, for example, EUR/JPY; or any other forex pairing. Any ideas?

Diver

diver993 wrote:
Hi Diver,

From time to time.

Not sure if that qualifies as regular, but looking at my trading history records, it turns out that I'm averaging 1 (usually, but not always a very quick trade) every 3 days, and they are not the usual suspects either. For example, I've traded the CNY/JPY cross during their recent dispute and this can work - but the spread can be unkind at times.

A lot of previous trades were event/macro, rather than T/A it has to be said.

I think Remo & RedChilly are the main guys when it comes to FOREX.

Cheers.

Does anyone on here regularly day trade forex?