How do we work out position sizing with XAUUSD, XAGUSD and WTI?
I like to use a fixed dollar amount for my risk.
What I do to work out my position sizing when I trade fx pairs is:
Say I wanted to risk $50 on a trade and my stop loss distance is 72pips, I would:
Risk amount / Stop Loss number of pips
50/72=0.69
Then enter 0.06 in MT4 which gives 0.60/pip.
I like to use a fixed dollar amount for my risk.
What I do to work out my position sizing when I trade fx pairs is:
Say I wanted to risk $50 on a trade and my stop loss distance is 72pips, I would:
Risk amount / Stop Loss number of pips
50/72=0.69
Then enter 0.06 in MT4 which gives 0.60/pip.