How to calculate takeprofit and stoploss pips based on money amount?
No you don't. If you have a $200 account would you put the SL 1/10 pip below open? If you have a $2M account would you put the SL 1000 pips below open. BOTH risk 1%/lot for the SAME TRADE?
You put the SL and TP where they logically belong and calculate your lot size based on your risk (account balance*percent) = (OrderOpenPrice - OrderStopLoss) * lotsize * deltaValuePerLot
Hi!
I have a multi symbol expert I made based on some news conditions. That news affect differents symbols. So, I tried to set takeprofit and stoploss on each symbol, but in some cases the profits and losses are not the expected ones.
By example, on FxPRO demo account when I send a 0.1 lots EURAUD order on with TP:120 and SL:60 pips, and at the same time I send a 0.1 lots EURUSD order with same TP and SL, assuming that both orders losses, then EURAUD losses about $60 and EURUSD only $6.
I want to know how to calculate the pips for set the TP and SL based on money amount. By example I want to set to all 0.1 lots orders TP: $12 and SL: $6, no mather what symbol it is.
How can I to calculate the pips based on that vars: TP($), SL($), Symbol, and Lots?
Thanks in advance,
Roger
Your SL was 60 Points,
EURUSD has 5 decimal places with FXPro, so 60 Points is 6 pips
EURAUD is only 4, so 60 Points is 60 pips
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Hi!
I have a multi symbol expert I made based on some news conditions. That news affect differents symbols. So, I tried to set takeprofit and stoploss on each symbol, but in some cases the profits and losses are not the expected ones.
By example, on FxPRO demo account when I send a 0.1 lots EURAUD order on with TP:120 and SL:60 pips, and at the same time I send a 0.1 lots EURUSD order with same TP and SL, assuming that both orders losses, then EURAUD losses about $60 and EURUSD only $6.
I want to know how to calculate the pips for set the TP and SL based on money amount. By example I want to set to all 0.1 lots orders TP: $12 and SL: $6, no mather what symbol it is.
How can I to calculate the pips based on that vars: TP($), SL($), Symbol, and Lots?
Thanks in advance,
Roger