I know this is a basic question, but I am struggling to find a way to open a trade with a fixed risk percentage.
As an example, I would like a trade to open with a risk of 2%. this way I can tell the EA to place a stoploss without stretching my risk.
If price hites my stoploss I want to close with 2% loss.
I have been trying to do this for the past 2 days. Is there anywhere I can find a code snippet that has this logic?
My code is attached and is not functional yet.
Busy trying to make an EA that opens trades based on price hitting the High/Low of the Bollinger
Any advice/help would be much appreciated!
Thank you! :)
Edited as I realised my questions logic was flawed.
Most pairs are worth about $10 per PIP. A $5 risk with a
(very small) 5
PIP SL is $5/$10/5 or 0.1 Lots maximum.