If you are trading with a risk management approach then you need to calculate the amount you are prepared to risk and from that the lot size to trade if you have a fixed stop loss or the stop loss price if you want to fix lot sizes.
The calculations are really very simple and in this vide I show how you can calculate the value of a one point price movement and then use that value to calculate lot sizes or stop loss prices.
Download the code from GitHub: https://github.com/OrchardForexTutorials/200628_calculate_risk_values
Sections of the code are duplicated to show different situations. You will get errors if you compile without commenting out the other sections.
The code on github is modified to avoid this.
After entring this section geting error which is riskLots & riskAmount & riskPoints variables are already defined
am i missing some thing Sir ?
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void Test(string symbol) {
PrintFormat(“Base currency is %s”, AccountCurrency());
PrintFormat(“Testing for symbol %s”, symbol);
double pointValue = PointValue(symbol);
PrintFormat(“ValuePerPoint for %s is %f”, symbol, pointValue);
// Situation 1, fixed lots and stop loss points, how much is at risk
double riskPoints = 75; // 0.0075 foR EURJPY, 0.00075 for EURGBP and AUDZND
double riskLots = 0.60;
double riskAmount = pointValue*riskLots*riskPoints;
PrintFormat(“Risk amount for %s trading %f lots with risk of %f points is %f”,
symbol, riskLots, riskPoints, riskAmount);
// Situation 2, fixed lots and risk amount, how many points to set stop loss
double riskLots = 0.60;
double riskAmount = 100;
double riskPoints = riskAmount/(pointValue*riskLots);
PrintFormat(“Risk points for %s trading %f lots placing %f at risk is %f”,
symbol, riskLots, riskAmount, riskPoints);
// Situation 3, fixed risk amount and stop loss, how many lots to trade
double riskAmount = 100;
double riskPoints = 50;
double riskLots = riskAmount/(pointValue*riskPoints);
PrintFormat(“Risk lots for %s value %f and stop loss at %f points is %f”,
symbol, riskAmount, riskPoints, riskLots);
}
Replied earlier
You will have to give more detail on the problem. XAGUSD works in my tests.
hi and thank you for sharing this viedio . but not work in xagusd how can i fix it?
hi thank you for sharing this video.
i use for xagusd but not work it hoe fix it?
thanks.