Download MetaTrader 5

View stop loss in dollars?

To add comments, please log in or register
johanmichel
131
johanmichel  

Hi there,

I was wondering if there is any way to view the stop loss amount in a new order by currency instead of by pips? It is now often totally unclear to me how much I will lose or win when setting a new order.

Is there a setting for this? Or a tool?

Thanks in advance,

Johan

whroeder1
16275
whroeder1  
  1. In code
    • You place the stop where it needs to be - where the reason for the trade is no longer valid.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/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
    • 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
  2. Use a GUI: Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 5
Osama Shaban
1686
Osama Shaban  

You just put the mouse on the StopLoss red line and you will get it in $$$.

whroeder1
16275
whroeder1  
Osama Shaban: You just put the mouse on the StopLoss red line and you will get it in $$$.
OP asked about "setting a new order," there is no red line until you create the order and then create a SL.
Osama Shaban
1686
Osama Shaban  
whroeder1:
OP asked about "setting a new order," there is no red line until you create the order and then create a SL.
Oh, you're right. Sorry!.
johanmichel
131
johanmichel  
Thanks a lot Whroeder & Osama.
To add comments, please log in or register