Risk depends on your initial stop loss, lot size, and the value of the symbol. It does not depend on margin and leverage. No SL means you have infinite risk. Never risk more than a small percentage of your trading funds, certainly less than 2% per trade, 6% total.
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You place the stop where it needs to be — where the reason for the trade is no longer valid.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.
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AccountBalance * 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.)
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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.
MODE_TICKVALUE is not reliable on non-fx instruments with many brokers - MQL4 programming forum (2017)
Is there an universal solution for Tick value? - Currency Pairs - General - MQL5 programming forum (2018)
Lot value calculation off by a factor of 100 - MQL5 programming forum (2019) -
You must normalize lots properly and check against min and max.
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You must also check FreeMargin to avoid stop out
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For MT5, see 'Money Fixed Risk' - MQL5 Code Base (2017)
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.
Hello William, thank you for your reply, in my case the trade has been already placed, so I have the Entry price, SL, TP values,
I wish to calculate the Risk : Reward, my code does this calculation, yet I need a divider that adjust for the different pairs,
If this Pair then Divider = 1000
If this Pair then Divider = 10000
My coding skills are very limited
All help appreciated 😊
I was trying this code to solve the problem
if(StringSubstr(Symbol(), 3) == "JPY")
{
Divider= 1000;
}
else if(StringSubstr(Symbol(), 3) == "USD")
{
Divider= 100000;
}
else Print("ERROR");
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Calculating the Risk Reward, yet need help with the Divider for different Pairs,
On the USDJPY if I divide by 1000 the return gives me the correct value, eg 2.6
Yet on the EURUSD the value returned is 10,000 time too large eg 14478.37 instead of 1.45
all help appreciated 😊double reward_risk() {
double ratio;
if(OrderType() == OP_BUY) {
ratio = (OrderTakeProfit() - OrderOpenPrice())/MarketInfo(OrderSymbol(),MODE_POINT)
/ (OrderOpenPrice() - OrderStopLoss())/MarketInfo(OrderSymbol(),MODE_POINT);
} else {
ratio = (OrderOpenPrice() - OrderTakeProfit())/MarketInfo(OrderSymbol(),MODE_POINT)
/ (OrderStopLoss() - OrderOpenPrice())/MarketInfo(OrderSymbol(),MODE_POINT);
}
return ratio/Divider;
}