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Auto Mode ~ Scale In

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Two Methods

There are two methods for using the Scale In tab of the Advanced Calculator: Manual or semi-automatic.

The manual method lets you put your entry prices and stop prices wherever you see fit. Read this article for more information about that.

The semi-automatic method uses the CONFIGURE button. With this option, all the distances or increments between entires and stops are the same: your plan is to lay them out like a grid.

Open Configure

To begin using the auto configure feature, click the button Configure near the top of the tab. This opens up a dialog box.

This button opens up the Configuration dialog box, which looks like this:

The Auto-Configuration dialog of the Scale In tab

Set Currency First

Remember, the Advanced Calculator holds your values separately for each currency pair on each tab, so set the currency first.

If you set prices up first and then change the currency pair, all the settings you made will seem to disappear, but in fact they’ve just gone into storage because they are linked to that other currency pair you had showing and so were starting to set up.

Number of Digits

Whether you choose 2 or 3 digits (on JPY pair) / 4 or 5 digits (on most other pair) is only a matter of your personal preference and style of trading. This choice has no impact on overall risk calculations used by the Calculator.

Set Initial Values

Everything on the left side of the dialog box has to do with your entries. (Everything on the right side of the dialog box has to do with your stops). Begin by setting up the left side values.

Choose buy or sell and your initial entry price. The concept of the Scale-In tab is that you are setting up successive entries as price moves in your favor, so you begin with the First Entry Price and the dialog figures out the rest of the entries for you from that point on.

Number of Legs

You can go as low as 2 and as high as 10. If you are in a trade and want to add more legs, you can always do this by clicking the Add A Leg button on the main page of this tab. Either fill in the number you want or use the up and down arrows to select your choice.

Interval Between

This setting governs how far apart each entry is from the one before it. It is laying out an evenly-spaced grid for you.

If you want an uneven grid, where some legs are closer together and some further apart then you have two choices:

  1. Continue to use the auto-configure dialog, then after you click save manually modify those legs you want to move closer or further from the others and your risk and reward readings will be updated as you do so.
  2. Don’t use auto-configure and instead set up all your legs manually.

Ratio Of Lot Sizes

Click the link in the lower left “Edit ratios for {x} legs”. The text will change based on how many legs you have chosen in the box for Number of legs. As you click the link it will open a new little dialog box like this:

Double click on any leg you wish to change and you can set a new value.

The numbers you see represent proportional pieces of the pie. They don’t represent lot sizes or any fixed values; they simply instruct how much weight the calculations should give to each leg relative to the other legs. The numbers don’t have to add up to 10 or to 100 – the calculator will take all the values you enter for each leg and figure out the relative proportions from there.

Setting Stops

The left side of the dialog governs stop settings. You have 3 choices for the how to set it, and 2 choices for determining if the stop you set is the same for each leg or different for each leg:

Option 1 – Number of pips

The first option, number of pips from leg one, means you set a value (like the 20 pips shown above) and that is how many pips your first stop will be from your first leg. If you want to use the same stop price for all your legs then you check the upper box “Use same stop log price for all legs”.

Here’s an example of what those choices will then look like, with a 20 pip stop for the first leg and the same stop value (e.g. 1079.9980) for all the legs:

If you want each leg to have a 20 pip stop (or whatever value you want), then click the lower button

That will give you a layout grid like this:

Option 2 – Actual Price

If you are working with a trade group or mentor who gives you a set price to use for a stop, this is the best option for you. When you use this, bid and ask are not factored into the consideration for you. You get what you enter.

Option 3 – Price You See

With this option, you enter a price – much as you do in option 2 “Actual Price” – but now the Advanced Calculator does the work for you of considering bid and ask, and how you must sometimes enter a stop value that is different than what your eye sees. (Read this article to learn more about stop you see versus actual price settings).

With this option you also can enter a ‘pad’ if you like. Here’s an example… say you see a big number nearby you’d like to use as your stop, say 1500.0000. But you understand that price action may interact with this big number in a zone of prices rather than an exact figure, so you want to give it a 10 pip buffer. Rather than do the math yourself, also accounting for whether to add or subtract bid or ask – just put the number you see in as the ‘Price You See” and then put the 10 pip buffer in as the “Stop Loss Pad”. Then calculator will then do the work for you.

Movie Demo

Troubleshooting

If you fill everything out in the dialog but the Save button is not lit up and you can’t click it to exit the dialog, check that you’ve chosen something in the Buy/Sell radio button.

If these are both blank you won’t be able to exit the configuration dialog

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