I have a script written that currently uses max percent risk for the position sizing. For example I have that set to 2%. However, I also want to ensure that the position size (dollar value) is less than 10% of the total portfolio. Is this possible? If it is, are there any examples that can help me do that? Please provide links if possible.

In this same script I add in to my position if it has gone in my favor far enough. I would like the add in position to be smaller than the original. Is there a way for me to control the amount of shares that are purchased outside of the 2% max percent risk setting that I have set? Additionally, the price that I would like to add in at is determined by the a couple factors, one of which is the number of shares purchased in the original position. Is there a way to determine that? The documentation mentions that the Shares property of the the Position object always returns a 1 while the strategy is executing.

Thanks!
Ames

These days WL5 is still being rebuilt. The next version 5.4, for instance, will still be bringing some of the missing features like Optimizer, and hopefully, a SetShareSize analogue. Adding to original position i.e. pyramiding is currently not possible because of the lack of such a function.

Nonetheless, as we found out WL5 is versatile enough to get the strategy equity curve and other properties in run-time. Currently we are halfway through creating a knowledge base article that will illustrate how to build a strategy that interacts dynamically with portfolio equity.

QUOTE:
I also want to ensure that the position size (dollar value) is less than 10% of the total portfolio. Is this possible?

Although Eugene will soon have an article that demonstrates a somewhat esoteric way of accomplishing this now, later this year (could be 5.4 or 5.5) this will readily be possible with "PosSizers", the new name for SimuScripts in V5.

QUOTE:
Is there a way for me to control the amount of shares that are purchased outside of the 2% max percent risk setting that I have set?

Again, sizing outside of the basic controls will require scripting with PosSizers (or a SetShareSize function as Eugene suggested).

Would it be best for me to wait until 5.4 or 5.5 come out or should I start re-developing in version 4? How likely is a 5.4 or 5.5 release that includes the features that I need this year? Will it be early or late this year? Is there any possibility of getting an early beta version of 5.4 or 5.5?

Thanks.

The deliverable features for 5.4 and 5.5 aren't cast in stone, so I can't tell you if PosSizers are going to make it for sure this year. The coding technique that Eugene will demonstrate in a KB article should work, although it's not nearly as intuitive.

Hi
I would like to do the exact same thing: Use RiskStopLevel for risk sizing, but with a max percent of account. I looked up the Pos Sizers and didn't see anything relevant. Any tips please?

Thanks and best regards
Rod

Hi Rod,

Based on your description, it sounds like Constant Risk will fit the bill. And with Position Options you should also be able to limit total invested amount ($ or %).

Such a fast answer! Yet again!

I will try those this weekend, thanks. The latter looks ideal.

PS: How do you know when someone has asked a question - do you get an alert? (as you always answer quickly).

Thanks
Rod

Cannot imagine my workflow and digital life in general without at least partial automation of their many aspects. So yes, I get notified. There's even an auto-responder for certain kind of support requests which triggers from time to time. For example, it makes suggestions when Wealth-Lab crashes or can even get another free trial to a returning user upon request.

Nice work