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What volume is needed to earn a specific amount?

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Deklin
26
Deklin 2015.05.11 20:59 

I need help with a formula for an expert adviser that I am creating.

I need to earn $17.00 from an increase of 8 Pips.  

In a recent trade, I lost $12.17 by loosing 6.12 Pips trading a volume of 80000 units.

What volume do I need to purchase to earn exactly $15.00 from a Pip gain of 8 Pips?
Ali Akcaagac
168
Ali Akcaagac 2015.05.11 21:40  

Uhm ? If I am not mistaken,

$15.00 / 8Pips = $1.875 per Pip

$1.875 per Pip / 1 Lot ($10.00) = 0.1875 Lot

Because:

1 Lot = $10.00; 0.1 Lot = $1.00; 0.01 Lot = $0.10

0.1875 Lot = $1.875 (x 1 Lot = $10.00)

$1.875 * 8Pips = $15.00

But this is clearly not the way you want to deal the market.

whroeder1
14753
whroeder1 2015.05.12 17:26  
deklin: What volume do I need to purchase to earn exactly $15.00 from a Pip gain of 8 Pips?
  1. You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
  2. Account Balance * percent = RISK = (OrderOpenPrice - OrderStopLoss)*DIR * OrderLots * DeltaPerlot (Note OOP-OSL includes the SPREAD)
  3. Do NOT use TickValue by itself - DeltaPerlot
  4. You must normalize lots properly and check against min and max.
  5. You must also check FreeMargin to avoid stop out
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