Diversification
- You place the stop where it needs to be - where the reason for the trade is no longer valid.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.
- Account Balance * percent = RISK = |OrderOpenPrice - OrderStopLoss| * OrderLots * DeltaPerlot (Note OOP-OSL includes the SPREAD)
- Do NOT use TickValue by itself - DeltaPerlot
- You must normalize lots properly and check against min and max.
- You must also check FreeMargin to avoid stop out
How can i open a position with known dollar value? Let say i want to trade AUD/CAD or AAPL, or any other asset, and i want to open position which value is 100$. How can i do this in mql4?
Thanks.