% buy and sell scripts help
frisco:
Without SL and TP,only open SELL or BUY with % of account balance you want.
If you open an order with a 5 pip SL you are risking (5+spread)* $10 per lot (~$70/lot) on the order (Assuming EURUSD, USD account)
If you open an order with a 500 pip SL you are risking 500 * $10. per lot ($5000/lot)
Percent of Account balance AND risk determines max lot size.
If you open an order with a 5 pip SL you are risking (5+spread)* $10 per lot (~$70/lot) on the order (Assuming EURUSD, USD account)
If you open an order with a 500 pip SL you are risking 500 * $10. per lot ($5000/lot)
Percent of Account balance AND risk determines max lot size.
This is what i ask.Not to calculate everytime,how many lots are 5% of my account.My broker is 5 digit.When you trade on 1min.timeframe,and everytime your SL is diferent,and you have to act realy fast,it came a proplem to calculate rigth.Can someone please write a code for that script.Thank you.
frisco I think you are not fully understanding how this part of forex money management works.
"How many lots are 5% of my account" is a meaningless question. You may as well as us how big or small is the color red, or if the number 3 is beautiful or ugly.
There are a few ways to define "% of my account" and it depends on what you personally want the number to represent.
Do you want the number to represent the % of your account that will be lost in the event that your position is stopped out? Or do you want the % account value to represent the required margin just to open the position?
You must have a specific stoploss price in mind, combined with a specific open price in order to determine the net value placed at risk of loss for a given lotsize. If you want it to represent a margin requirement then this can be done with merely the open price.
frisco I think you are not fully understanding how this part of forex money management works.
"How many lots are 5% of my account" is a meaningless question. You may as well as us how big or small is the color red, or if the number 3 is beautiful or ugly.
There are a few ways to define "% of my account" and it depends on what you personally want the number to represent.
Do you want the number to represent the % of your account that will be lost in the event that your position is stopped out? Or do you want the % account value to represent the required margin just to open the position?
You must have a specific stoploss price in mind, combined with a specific open price in order to determine the net value placed at risk of loss for a given lotsize. If you want it to represent a margin requirement then this can be done with merely the open price.
Thank you for answering.
I'm not so good in english,may be thats the problem.Yes you r right i must define SL level and % of account i want to risk.Script must ask me for stoploss level and %(from 1 to 100) but must ask everytime i put it on a grapf window.I hope you understant that...when i write for example 1.45678 for a stoploss level,and 10 for % of my occount,scipt must calculate lotsize,open that position and place Stop on 1.45678 .Script must be write for a 5 digit broker.
Thax again.
Hi frisco, OK you explained perfectly for my understanding now. Try the script that is attached to my post here: https://www.mql5.com/en/forum/129553/page2#388122
Hi frisco, OK you explained perfectly for my understanding now. Try the script that is attached to my post here: https://www.mql5.com/en/forum/129553/page2#388122
10Q so mutch Phill this is what i realy need.10x again and keep up the good work.
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Hi everyone.I realy need a help with this.
There is a lot of scripts that open buy and sell orders,with TP and SL,but a cannot find script that open SELL or BUY with account %.
It must look like this:When you open BUY script window,you can write the % ot account that you will risk on that order.Without SL and TP,only open SELL or BUY with % of account balance you want.
Must have for SELL and BUY script ofcourse.
I will realy appreciate if somebody write this script for me,not only for me it will be very helpfull for a lot of people.
Thank you!