Constant LOT size

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aiimon22
24
aiimon22  
When copying trades, is there any way I can keep a constant lot size. For example, the signal I follow might trade in 0.10 lot size, I want to enter the same trade with 0.01 lot size.
Eleni Anna Branou
Moderator
6598
Eleni Anna Branou  
aiimon22:
When copying trades, is there any way I can keep a constant lot size. For example, the signal I follow might trade in 0.10 lot size, I want to enter the same trade with 0.01 lot size.

No you can't do that, except if you keep the 1/10th of the signal provider's balance (a bit more actually, since you can only use up to 95% of it).

Or you can adjust the participation percentage in signal's settings, accordingly in order to keep a copying ratio of 10% always.

whroeder1
17943
whroeder1  
aiimon22: When copying trades, is there any way I can keep a constant lot size.

Copying trade, no.

You don't ever want constant lot size. You want constant risk and risk is a function of lot size, stop loss size, and value of the symbol.

  1. In code: Risk depends on your initial stop loss, lot size, and the value of the pair.
    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 You place the stop where it needs to be - where the reason for the trade is no longer valid.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/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.)
    3. 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.
    4. You must normalize lots properly and check against min and max.
    5. You must also check FreeMargin to avoid stop out
    Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5=0.1 Lots maximum.
  2. Use a GUI EA like mine (for MT4): Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 6
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