position size

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hi can anyone help me find a good position size calculator for MT4  for forex i have purchased one th

at didnt work and i am so disappointed

 
reetvinnie: good position size calculator for MT4  for forex

  1. Why did you post your MT4 question in the MT5 General section instead of the MQL4 section, (bottom of the Root page?)
              General rules and best pratices of the Forum. - General - MQL5 programming forum?
    Next time post in the correct place. The moderators will likely move this thread there soon.

    1. Risk depends on your initial stop loss, lot size, and the value of the symbol. It does not depend on margin and leverage. No SL means you have infinite risk. Never risk more than a small percentage of your trading funds, certainly less than 2% per trade, 6% total.
      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 You place the stop where it needs to be — where the reason for the trade is no longer valid.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. AccountBalance * 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 - MQL4 programming forum 2017.10.10
                  Is there an universal solution for Tick value? - Currency Pairs - General - MQL5 programming forum 2018.02.11
                  Lot value calculation off by a factor of 100 - MQL5 programming forum 2019.07.19
      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 or 0.1 Lots maximum.

    2. Search for a GUI/Trade Assistant EA like mine (for MT4): 'Money Manager Graphic Tool' indicator by 'takycard' - Risk Management - Articles, Library comments - MQL5 programming forum - Page 6 #55 2018.01.14
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