Well Ive made my first trade here today! How confusing it is, instead of just saying how much money i want to place on a trade its done by volumne. How do I work this out please. Say I want to put $500 on something to buy how do i work out want volume i want? I am on a XM Zero account
- Put EA on a SERVER
- Toys from Vinin
- Money management.
- In code:
Risk depends on your initial stop loss, lot size, and the value of the pair.
- You place the stop where it needs to be - where the reason for the trade is no longer valid.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
and verify that MODE_TICKVALUE is returning a value in your deposit
currency, as promised by the documentation, or whether it is returning a value
in the instrument's base currency (EUR, in this case).
MODE_TICKVALUE is not reliable on non-fx instruments with many brokers. - You must normalize lots properly and check against min and max.
- You must also check FreeMargin to avoid stop out
- Use a EA GUI such as the one for MT4: Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 5
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