How to properly calculate target price for a profit value`

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I've been trying to calculate target price for a given profit value (in account currency) but I have failed!

I've opened a position in USDJPY and with the following state:

Volume: 0.01
Entry price: 152.982
Current price: 153.449
Current profit: $3.60


Now I'm trying to calculate the profit in MQL5 which I was not able to!

ProfitPerUnit = Volume × ContractSize × TickSize / TickValue​

PriceChange = Profit / PerUnitProfit​
TargetPrice = CurrentPrice + PriceChange

// Data from MT5 for USDJPY symbol
ContractSize = 100,000
TickSize = 0.001
TickValue = 0.651313047102959564

ProfitPerUnit = 651.3130471029595
PriceChange = 3.60 / 651.313 = 0.005526

Which 0.005526 is obviously not the correct answer. the price change is (153.449 - 152.982 = 0.467) not 0.005526.

What is wrong with my calculation?

 

For MQL5, just use the OrderCalcProfit() — MQL5 Book: Trading automation / Creating Expert Advisors / Estimating the profit of a trading operation: OrderCalcProfit

For many symbols, the maths is usually as follows, but not always, so it is best to use OrderCalcProfit().

Forum on trading, automated trading systems and testing trading strategies

How to calculate take profit from currency

Fernando Carreiro, 2022.09.05 17:00

These are all the same equation written in different ways ...

[Volume]      = [Money Value] * [Tick Size] / ( [Tick Value] * [Stop Size] )
[Stop Size]   = [Money Value] * [Tick Size] / ( [Tick Value] * [Volume]    )
[Money Value] = [Volume]      * [Stop Size] * [Tick Value]   / [Tick Size]

[Volume] in lots
[Stop Size] in quote price change
[Money Value] in account currency
Documentation on MQL5: Trade Functions / OrderCalcProfit
Documentation on MQL5: Trade Functions / OrderCalcProfit
  • www.mql5.com
The function calculates the profit for the current account, in the current market conditions, based on the parameters passed. The function is used...
 

In case you are curious, the documentation describes the various calculations that OrderCalcProfit() and OrderCalcMargin() apply depending on the situation.

ENUM_SYMBOL_CALC_MODE

Identifier

Description

Formula

SYMBOL_CALC_MODE_FOREX

Forex mode - calculation of profit and margin for Forex

Margin:  Lots * Contract_Size / Leverage * Margin_Rate

 

Profit:   (close_price - open_price) * Contract_Size*Lots

SYMBOL_CALC_MODE_FOREX_NO_LEVERAGE

Forex No Leverage mode – calculation of profit and margin for Forex symbols without taking into account the leverage

Margin:  Lots * Contract_Size * Margin_Rate

 

Profit:   (close_price - open_price) * Contract_Size * Lots

SYMBOL_CALC_MODE_FUTURES

Futures mode - calculation of margin and profit for futures

Margin: Lots * InitialMargin * Margin_Rate

 

Profit:  (close_price - open_price) * TickPrice / TickSize*Lots

SYMBOL_CALC_MODE_CFD

CFD mode - calculation of margin and profit for CFD

Margin: Lots * ContractSize * MarketPrice * Margin_Rate

 

Profit:  (close_price - open_price) * Contract_Size * Lots

SYMBOL_CALC_MODE_CFDINDEX

CFD index mode - calculation of margin and profit for CFD by indexes

Margin: (Lots * ContractSize * MarketPrice) * TickPrice / TickSize * Margin_Rate

 

Profit:  (close_price - open_price) * Contract_Size * Lots

SYMBOL_CALC_MODE_CFDLEVERAGE

CFD Leverage mode - calculation of margin and profit for CFD at leverage trading

Margin: (Lots * ContractSize * MarketPrice) / Leverage * Margin_Rate

 

Profit:  (close_price-open_price) * Contract_Size * Lots

SYMBOL_CALC_MODE_EXCH_STOCKS

Exchange mode – calculation of margin and profit for trading securities on a stock exchange

Margin: Lots * ContractSize * LastPrice * Margin_Rate

 

Profit:  (close_price - open_price) * Contract_Size * Lots

SYMBOL_CALC_MODE_EXCH_FUTURES

Futures mode –  calculation of margin and profit for trading futures contracts on a stock exchange

Margin: Lots * InitialMargin * Margin_Rate or Lots * MaintenanceMargin * Margin_Rate

 

Profit:  (close_price - open_price) * Lots * TickPrice / TickSize

SYMBOL_CALC_MODE_EXCH_FUTURES_FORTS

FORTS Futures mode –  calculation of margin and profit for trading futures contracts on FORTS. The margin may be reduced by the amount of MarginDiscount deviation according to the following rules:

1. If the price of a long position (buy order) is less than the estimated price, MarginDiscount = Lots*((PriceSettle-PriceOrder)*TickPrice/TickSize)

2. If the price of a short position (sell order) exceeds the estimated price, MarginDiscount = Lots*((PriceOrder-PriceSettle)*TickPrice/TickSize)

where:

    • PriceSettle – estimated (clearing) price of the previous session;
    • PriceOrder – average weighted position price or open price set in the order (request);
    • TickPrice – tick price (cost of the price change by one point)
    • TickSize – tick size (minimum price change step)

Margin: Lots * InitialMargin * Margin_Rate or Lots * MaintenanceMargin * Margin_Rate

 

Profit:  (close_price - open_price) * Lots * TickPrice / TickSize

SYMBOL_CALC_MODE_EXCH_BONDS

Exchange Bonds mode – calculation of margin and profit for trading bonds on a stock exchange

Margin: Lots * ContractSize * FaceValue * open_price * /100

 

Profit:  Lots * close_price * FaceValue * Contract_Size  + AccruedInterest * Lots * ContractSize

SYMBOL_CALC_MODE_EXCH_STOCKS_MOEX

Exchange MOEX Stocks mode – calculation of margin and profit for trading securities on MOEX

Margin: Lots * ContractSize * LastPrice * Margin_Rate

 

Profit:  (close_price - open_price) * Contract_Size * Lots

SYMBOL_CALC_MODE_EXCH_BONDS_MOEX

Exchange MOEX Bonds mode – calculation of margin and profit for trading bonds on MOEX

Margin: Lots * ContractSize * FaceValue * open_price * /100

 

Profit:  Lots * close_price * FaceValue * Contract_Size  + AccruedInterest * Lots * ContractSize

SYMBOL_CALC_MODE_SERV_COLLATERAL

Collateral mode - a symbol is used as a non-tradable asset on a trading account. The market value of an open position is calculated based on the volume, current market price, contract size and liquidity ratio. The value is included into Assets, which are added to Equity. Open positions of such symbols increase the Free Margin amount and are used as additional margin (collateral) for open positions of tradable instruments.

Margin: no

Profit:  no

 

Market Value: Lots*ContractSize*MarketPrice*LiqudityRate
Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Symbol Properties
Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Symbol Properties
  • www.mql5.com
To obtain the current market information there are several functions: SymbolInfoInteger() , SymbolInfoDouble() and SymbolInfoString() . The first...
 
Fernando Carreiro #:
[Stop Size]   = [Money Value] * [Tick Size] / ( [Tick Value] * [Volume]    )

Thank you for clarification. 

Used this formula and got what I wanted

[Stop Size]   = [Money Value] * [Tick Size] / ( [Tick Value] * [Volume]    )
 
Fernando Carreiro #:

For MQL5, just use the OrderCalcProfit() — MQL5 Book: Trading automation / Creating Expert Advisors / Estimating the profit of a trading operation: OrderCalcProfit

For many symbols, the maths is usually as follows, but not always, so it is best to use OrderCalcProfit().

[Volume]      = [Money Value] * [Tick Size] / ( [Tick Value] * [Stop Size] )

strangely it works well with TickSize = 1 ...... 

[Volume]      = [Money Value] / ( [Tick Value] * [Stop Size] )

if I put a regular symbol ticksize, es: 0.000.1 it result in crazy results .... how is possible ? to be precise stop size is the number of pips...not the stopLoss price

 
Sabino Martiradonna #:

strangely it works well with TickSize = 1 ......

if I put a regular symbol ticksize, es: 0.000.1 it result in crazy results .... how is possible ? to be precise stop size is the number of pips...not the stopLoss price

hence, why Fernando said "so it is best to use "OrderCalcProfit()".

 
Fernando Carreiro #:

For MQL5, just use the OrderCalcProfit() — MQL5 Book: Trading automation / Creating Expert Advisors / Estimating the profit of a trading operation: OrderCalcProfit

For many symbols, the maths is usually as follows, but not always, so it is best to use OrderCalcProfit().

Hi Fernando, just saw this thread and thank you for the answer.

How would you use this, for example, in a basket trading scenario - so multiple sell positions on the same symbol but with increasing volumes to hit a specific TP target? eg, you have positions at volume 0.04,0.04,0.06.

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