Place mt4 order not enough money

[29ron]

Placing an order on mt4 If I try to place an order for lets say Aud/Cad it will not let me do that If I put more the 9 cents if I put 50 cents it kicks it out and says Not Enough Money I put a 20 pip stop lose and 30 pip take profit and I have $400.00 in the account so can some one tell me what to do to fix this. Thanks Ron

[Lorentzos Roussos]

29ron:
Placing an order on mt4 If I try to place an order for lets say Aud/Cad it will not let me do that If I put more the 9 cents if I put 50 cents it kicks it out and says Not Enough Money I put a 20 pip stop lose and 30 pip take profit and I have $400.00 in the account so can some one tell me what to do to fix this. Thanks Ron

Hello . These are lots you are entering not cents . 

Here's a little cheat sheet for the lot values and their margin requirements and their values per minimum price fluctuation of that asset.

[William Roeder]

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 (on leveraged symbols). 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 You place the stop where it needs to be — where the reason for the trade is no longer valid.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)
             Is there an universal solution for Tick value? - Currency Pairs - General - MQL5 programming forum (2018)
             Lot value calculation off by a factor of 100 - MQL5 programming forum (2019)

4. You must normalize lots properly and check against min and max.

5. You must also check Free Margin to avoid stop out

6. For MT5, see 'Money Fixed Risk' - MQL5 Code Base (2017)

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.