Make all mistakes in demo and rain in pips in live account
Is forex education misleading or everyone is stupid?
{quote} Yes. {quote} Your EA needs to roundup the lot acounding to this. You can't just let it be anything without boundaries, that disaster in the making. You need to quantify a bit better. The same way to need to round order price to pipettes, you also need to round the lot size accordingly. Reading this {quote} It means that when you are planning a trade you'd like the outcome to be -5% or +5%. -5% or +5% of what? Are you saying that you'd like the profit to be +5% of your Equity or the loss to be -5% as of your equity?
Yes excuse my math language. Simplifying everything.-5% if equity incase of stoploss
{quote}
- make a profit of 5% of your equity
- make a loss of 5% of your equity.
That means that your SL=PriceA-5% and TP=PriceA+5% in case of a long trade. So 5% become your R, risk reward ration(RRR).
So the true question is how much pips represent 5% of your equity.
The answer is it depends on your equity, your account base currency, your account leverage and the currency pair you are trading.
Is this what your are looking for before I deep dive in how to calculate the Lot size once you know the pips?
Thanks! Good luck with all your trading. Serge.
- #409
- Jan 21, 2022 12:28pm Jan 21, 2022 12:28pm
- Joined Apr 2020 | Status: Trader/Coder | 1,929 Posts
if your risk sl 100 pips , and your tp is 100 pips ... R:R 1
if your risk sl is 50 pips , and your tp is 100 pips ..R;R 2
Observer effect
- #412
- Jan 22, 2022 2:37am Jan 22, 2022 2:37am
- Joined Mar 2016 | Status: Trader | 6,338 Posts
{quote} Wise words. If you're not scalping thought
Make all mistakes in demo and rain in pips in live account
- #415
- Jan 22, 2022 6:23am Jan 22, 2022 6:23am
The math say if the lot size calculation was accurate from trade number 1, today growth would be 234%How do I make these lot sizes accurate?????? Is it a limitation?
I have thought about this. If the numbers says the lot size should be 0.0546788 for example, mql5 will round up to 0.05 lot. After 69 trades those little 0.0046788 would add up to be 0.3228372!!!!
In the case of rounding numbers in the MetaTrader programmer. In this case because of limitation of lot size to 0.01 its better you give ability to your EA that round the number to nearest acceptable number for meta trader and give a tolerant to your Risk reward from 5 percent to 4.9 , 4.8 ...or 5.1 , 5.2 and....
You tried trading Forex and it didn't work out for you so don't make the argument that Forex trading is impossible. If you're gonna run after 'The Profitable System' then you won't find it. I heard this quote from somewhere that "Your analysis is nothing but a way of giving you guts to take the trade". You can call profitable people lucky if that makes you sleep at night but maybe your thread should rather be a guide for people learning when to quit if things don't work out for them.
You can't read or you read to reply, not to understand?
I'm a logical person, I don't take decision based on emotions, especially those that involves my finances.
If had even considered to try Forex, the following reasons was going to go through my mind, Seeing that Forex trading have a 2:10 chances of success would mean it's close to impossible, chances of success are not worth the risk and effort. 2:10 comes from 98% losing traders stats.
I'm just a curious person. That's all
- #417
- Jan 22, 2022 11:11pm Jan 22, 2022 11:11pm
{quote} Where did I say I tried Forex now? You can't read or you read to reply, not to understand?
Now instead of being stuck to it, let go of it. Trading has hurt a ton of people but that shouldn't stop you from excelling in other jobs. Let go of it and good luck with your next venture.
