MQL4 code required - calculate $value per point

[Bryan John Aldridge]

I want to set my TP based on a target % of my account balance. Example:

Balance=$100

Lotsize=0.01

EURUSD

Target % profit = 0.5% of balance

Once I have the $value per point I can then calculate my TP

[Jack Thomas]

bryanjald_gmail_com:

I want to set my TP based on a target % of my account balance. Example:

Balance=$100

Lotsize=0.01

EURUSD

Target % profit = 0.5% of balance

Once I have the $value per point I can then calculate my TP

Your options are:

1: Hire someone

https://www.mql5.com/en/job

2: Find something in the codebase

https://www.mql5.com/en/code

3: Find something in the market place

https://www.mql5.com/en/market

4: Learn to code
https://www.mql5.com/en/docs

[Bryan John Aldridge]

Jack Thomas:

Your options are:

1: Hire someone

https://www.mql5.com/en/job

2: Find something in the codebase

https://www.mql5.com/en/code

3: Find something in the market place

https://www.mql5.com/en/market

4: Learn to code
https://www.mql5.com/en/docs

Ha ha ha ha

[Jack Thomas]

bryanjald_gmail_com:

Ha ha ha ha

You laugh at my answer? I'm serious. Those are your options. 

[William Roeder]

bryanjald_gmail_com: Once I have the $value per point I can then calculate my TP

Do your math.

1. You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
2. Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
3. Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency.
             MODE_TICKVALUE is not reliable on non-fx instruments with many brokers.
4. You must normalize lots properly and check against min and max.
5. You must also check FreeMargin to avoid stop out

Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5=0.1 Lots maximum.

[Bryan John Aldridge]

whroeder1:

Do your math.

1. You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
2. Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
3. Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency.
             MODE_TICKVALUE is not reliable on non-fx instruments with many brokers.
4. You must normalize lots properly and check against min and max.
5. You must also check FreeMargin to avoid stop out

Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5=0.1 Lots maximum.

Thanks.