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Help with MM calculation please

  • #1
  • First Post: Edited 6:25pm Nov 12, 2020 6:14pm | Edited 6:25pm
Hi there,

I am reaching out, as I need help from some genius to calculate a formula for my EA.

I have build a grid EA, which I am quite happy with. But the MM part has a missing part, which is to calculate
lot size based on pip value.

We all know, that the USD pip value for most pairs are different.

ie. Pip value for EURGBP is 11.11 USD per 1 lot, GBPCAD is 6.45 USD per 1 lot and EURNZD is 5.79 per 1 lot.

I trade 28 pairs.

My MM input is :

Money Level : 1000
Lots per level : 0.1

So if I have ie. 5000 balance, the EA trades 0.5 lot per grid trade.

I have no SL on the trades at all, but close all grid trades when a pair reach 0.3 pips ratio of the 20 ATR daily value.
So ie. if Daily ATR 20 is 100 pips, I close all grid trades when the net amount of all grid trades are 30 pips in profit. (on each pair).

As I use no SL per trade (only a hard SL of 10%of all open trades), I find it very difficult to come
up with a formula, to adjust trade size on each pair...

As the EA is now, the EA trade EURGBP with double risk as ie. the EURNZD because the EA only look at Money level and EURGBP lot value
is almost double as the EURNZD lot value.

Can anybody come up with a "3. factor "input, in order to auto calculate a lot size adjustment, which take into consideration
the pip value on each specific pair?

So my goal is to have same risk /(and same TP) value on each pair, no matter if I trade EURGBP or EURNZD or any other pair.

Any help would be much appreciated as I have sleepless nights over this haha....

THANKS

PC
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  • #2
  • Nov 12, 2020 6:27pm Nov 12, 2020 6:27pm
I think I can help you. How do you determine your risk for each trade? Or the Initial trade for the grid
You get what you work work for, not wish for.
  • #3
  • Nov 12, 2020 6:31pm Nov 12, 2020 6:31pm
Quoting honeggeral
I think I can help you. How do you determine your risk for each trade? Or the Initial trade for the grid
Hi there, thanks.

Well that's exactly my challenge, I do not determine any risk, only lot size per money level as described in post 1.

My MM input is :

Money Level : 1000
Lots per level : 0.1

Thanks

PC
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  • #4
  • Nov 12, 2020 6:33pm Nov 12, 2020 6:33pm
As for my own eas, I’ve developed a code where you simply draw a line where your desired stop loss is and you enter your max you want to lose of your account as a % and it will calculate your Lot size for you and place the trade with SL. I believe this can be applied to yours as my lot calculation takes into account the pipvalue of the currency in trading
You get what you work work for, not wish for.
  • #5
  • Nov 12, 2020 6:34pm Nov 12, 2020 6:34pm
Quoting pipcruiser
{quote} Hi there, thanks. Well that's exactly my challenge, I do not determine any risk, only lot size per money level as described in post 1. My MM input is : Money Level : 1000 Lots per level : 0.1 Thanks PC
what do you mean by money level? I need an example of how the EA is supposed to work step by step from the moment you place a trade. Your first post is a little confusing
You get what you work work for, not wish for.
  • #6
  • Edited 6:48pm Nov 12, 2020 6:37pm | Edited 6:48pm
Quoting honeggeral
As for my own eas, I’ve developed a code where you simply draw a line where your desired stop loss is and you enter your max you want to lose of your account as a % and it will calculate your Lot size for you and place the trade with SL. I believe this can be applied to yours as my lot calculation takes into account the pipvalue of the currency in trading

Yes thats the normal way to do it, but as I only use a hard SL for all open trades— this approach can not be used in my case - I guess or?!

thanks

PC
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  • #7
  • Nov 12, 2020 6:39pm Nov 12, 2020 6:39pm
Quoting honeggeral
{quote} what do you mean by money level? I need an example of how the EA is supposed to work step by step from the moment you place a trade. Your first post is a little confusing
Money level is account balance.

PC
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  • #8
  • Nov 12, 2020 6:51pm Nov 12, 2020 6:51pm
I understand what you’re trying to do. If you can post an example of your grid system and when the next orders are placed I think I can provide some input. For example trade 1 is placed, trade 2 is placed when price hits this zone, trade 3.. etc. Your description doesn’t have enough info to create such a formula. Does each trade that opens need to calculate what lot size it needs to be according to the amount of “profit pips” left that it needs to reach? For instance if your atr 20 is 100, so 30 pips net profit close out, if your second trade is place when you already have 20 pips profit, calculate the lot size for the second trade so that it will only need to account for the leftover 10 pips? You have to clarify your system to determine these instances..
You get what you work work for, not wish for.
  • #9
  • Nov 12, 2020 6:58pm Nov 12, 2020 6:58pm
Quoting honeggeral
I understand what you’re trying to do. If you can post an example of your grid system and when the next orders are placed I think I can provide some input. For example trade 1 is placed, trade 2 is placed when price hits this zone, trade 3.. etc. Your description doesn’t have enough info to create such a formula. Does each trade that opens need to calculate what lot size it needs to be according to the amount of “profit pips” left that it needs to reach? For instance if your atr 20 is 100, so 30 pips net profit close out, if your second trade is...

Thanks again

once the first trade is placed all following grid trades are same size untill TP. That’s how its coded to keep it simple.

PC
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  • #10
  • Nov 12, 2020 11:23pm Nov 12, 2020 11:23pm
You already know that you are prepare to risk = 0.3 * ATR
Now work out how many ticks this equates to, in your example of 30 pips = 300 ticks for EURUSD
now grab the tick value for EURUSD

dollar risk per one lot = tickvalue * ticks

work out what risk you are prepared to accept, say 1% of account balance

Lot size then calculates out as

Lots = (1% of account balance) / (tickvalue * ticks)
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  • #11
  • Edited 3:03am Nov 13, 2020 1:15am | Edited 3:03am
Quoting RedLineFred
You already know that you are prepare to risk = 0.3 * ATR Now work out how many ticks this equates to, in your example of 30 pips = 300 ticks for EURUSD now grab the tick value for EURUSD dollar risk per one lot = tickvalue * ticks work out what risk you are prepared to accept, say 1% of account balance Lot size then calculates out as Lots = (1% of account balance) / (tickvalue * ticks)
Thanks, but no I don't use SL...that's exactly the challenge/problem...thanks anyway

PC
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  • #12
  • Nov 13, 2020 7:58am Nov 13, 2020 7:58am
Quoting pipcruiser
So my goal is to have same risk /(and same TP) value on each pair, no matter if I trade EURGBP or EURNZD or any other pair.
You have to define a reference (pip-) value i.e. $10. Next, the pair lot size is: reference value divided by pair pip-value times reference size (0.1 lot). In case of EURGBP it is 10/11.11*0.1; and in case of EURNZD it is 10/5.79*0.1..
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  • #13
  • Nov 13, 2020 10:16am Nov 13, 2020 10:16am
LotSize[BS]/SymbolInfoDouble(Syms[BS][idx],SYMBOL_TRADE_TICK_VALUE);
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  • #14
  • Last Post: Nov 14, 2020 4:04am Nov 14, 2020 4:04am
Thanks a lot for the input guys, I will pass along to my coder....

Have a great weekend

PC
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